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Yeah, this is a big problem I have with a lot of left wing climate criticism: they blame capitalism for climate change as if nationalizing the industry would ma
by Robotbeat 5y ago
Yeah, this is a big problem I have with a lot of left wing climate criticism: they blame capitalism for climate change as if nationalizing the industry would make any difference. If anything, having the companies be privately owned puts extra barriers between the companies and the regulators, reducing (in theory, at least) the odds of regulatory capture.
(Which isn’t to say the right wing kind of ignoring or blatantly lying about climate change is better…)
- wizzwizz4 5y agoPedantic note: nationalising an industry doesn't always affect the incentives that result from capitalism. Sometimes it does (because it has to deal with the externalities, so the government would lose out if it kept the industry behaving like that), but in cases where the harm is international and the benefit is national, the incentives are the same. (Yes, I understand that these particular incentives result from any situation of competition for resources, and aren't inherently related to the economic system. However, the point is more general.)