4 ms·
Many of the plants are under common ownership. If you own 10 plants and shutting 3 of them can cause the remaining 7 to increase profits by 10,000%, it's not h
by panarky 6y ago
Many of the plants are under common ownership.
If you own 10 plants and shutting 3 of them can cause the remaining 7 to increase profits by 10,000%, it's not hard to see how that might influence your decisions.
This is market failure. The incentives magnify minor events into catastrophes.
- cameldrv 6y agoYeah that's what I want to know. If it's a physical problem like low gas pressure or pipes freezing, I don't see why so many plants would shut down at the same time. If they were shut down for economic reasons, that suggests that there was a huge market failure, especially now, almost five days later and they're still not fully operational.