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Are companies like this not proof that the free market system does not exist? I mean how could PG&E still exist if this were the case?
by Eddy_Viscosity2 3y ago
Are companies like this not proof that the free market system does not exist? I mean how could PG&E still exist if this were the case?
- epistasis 3y agoWhat do you mean by "free market"? In any case, that might be a tangential, as regulated utilities are decidedly what nobody thinks of as a free market. They are a monopoly, but trade off regulation of their pricing and investment decisions in return for the monopoly status.
- Eddy_Viscosity2 3y ago> What do you mean by "free market"? I mean the concept that bad actors in a market will eventually die out because new competitors will emerge that offer better value which will then get all the business.
- beej71 3y agoApplicable: https://en.wikipedia.org/wiki/Natural_monopoly https://en.wikipedia.org/wiki/Natural_monopoly