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I’m a little surprised at the vitriol towards market forces here. What would happen if we fixed prices? Make things even worse longer term as no incentive exist
by Panzer04 4y ago
I’m a little surprised at the vitriol towards market forces here. What would happen if we fixed prices? Make things even worse longer term as no incentive exists to reduce consumption and increase production. The shale boom has made oil companies reluctant to increase production only to see them get screwed down with low prices later.
Even more ironic when tech companies have far more market power and fully exploit it, both to the benefit of shareholders and their employees. (Not arguing against that either, those stratospheric returns drive new companies to try and improve to take their place)
- giraffe_lady 4y agoThe idea that "market forces" is a neutral thing we can only accept, like the weather, is a particular ideology that is widely, but not universally, accepted. There are people behind these forces and people beneath their consequences. The balances here are the result of choices we've made and vitriol is a valid reaction to those results. Personally I'm very comfortable directing that vitriol at the actual people who benefit from the exploitation of these market powers at the expense of others. But everyone isn't there yet so you have to give them a little room to be proxy mad at the "market forces" in the mean time.
- belltaco 4y agoWhy not tax say 20% of the new profits and help the poorest who are most hit by gas price inflation?