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Free Market Does It Again
(lemmygrad.ml)
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this post was submitted on 18 Aug 2023
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GenZedong
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For profit industry will always be more expensive than public. Because the goal of the public industry is to provide the public with that good/service. It often sells at cost or even at a deficit since it does not need to profit. Its prices will only raise if material or labor costs increase.
Meanwhile private industries will always be looking for ways to increase price. Whether it be by cutting wages even further, adding pointless additions to up sell, “shrinkflation” etc. Because the goal is to make money despite the actual value of it’s good/service.
reminds me of how many western commentators disparage china's high speed rail system for running at a loss and supposedly wasting money. yes, of course it does. the trains are the point, not the pursuit of profit. the government pays for high speed rail because it's a needed service, and the costs of operating hsr is worth it in the long run and will even pay for itself.
Exactly. Money from train ticket sales is not the point of the public transport. The payoff lies in the population being able to travel the country cheaply. Yes the train will run a loss but the country as a whole will greatly benefit with the ease of transportation.
Capitalists only care about the sale. It is very short sided when trying to improve a nation as a whole. A private industry must constantly grow more and more to stay in business. This is detrimental in the long run as it will constantly require more and more degradation of the service and collusion with the state to maintain this profit growth. Overall, it will cost the population much more than the “losses” a public industry would.