Comment on Something something far-left
wildbus8979@sh.itjust.works 2 weeks agoMy government owned power utility is selling me the cheapest electricity of all the OECD, and still turning a profit that’s returned in the government’s coffers to invest in research and social services. It’s awful!
untakenusername@sh.itjust.works 2 weeks ago
What I don’t like isn’t the fact that the profits of the service aren’t going to shareholders, but because it gives the govt more power over you. This is fine if you trust the govt, but at some point there is an extreme of trusting the govt with too much. like I wouldn’t want the chinese govt controlling my finances
wildbus8979@sh.itjust.works 2 weeks ago
Yeah you’re right, the shareholders really have my best interests at heart!
Thankfully in this case I AM THE SHAREHOLDER.
untakenusername@sh.itjust.works 1 week ago
what is a shareholder
untakenusername@sh.itjust.works 2 weeks ago
no ur not 🤦
your government is
how about you tell me right now what a shareholder is because it really seems like you don’t know
the shareholders only care about themselves, but the system that they collectively create through mutual competition and distrust for each other provides (ideally) cheap and (ideally) high quality products for the costumer. Why isn’t this the case irl? Not enough competition, which the govt can safely encourage with antitrust laws.
agamemnonymous@sh.itjust.works 1 week ago
Price - Cost = Profit
Shareholders take their cut from the Profit side. Under the capitalistic owner-worker relationship, workers take their cut from the Cost portion. Customers want to minimize the price.
The shareholders and the workers are directly in conflict, and the shareholders are the only ones who get to appoint the board of directors. Shareholders want to maximize Profit, which means they want Price to be as high as the market can bear, and Cost (including workers wages) to be as low as the market can bear.
This directly, mathematically, incentivizes shareholders make things worse for workers and customers, and then roll those profits into the next business venture. Clever lawyers can justify their Cost by saving bigger Costs, as can lobbyists. Heck, if you’re clever enough you can get legislation drafted to specifically target your competitors. Every antitrust law just invents a new fun little puzzle for clever lawyers.
The difference between a government and a company, is that I can vote out the greedy people in my government. I can’t vote out greedy shareholders. Both will eventually become corrupt, but only one is built with countermeasures.