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Private Utility Monopolies Serve Shareholder Profits. Let’s Make Power Public.

March 9, 2020 - 1:11am

Consider a hypothetical corporation that has a monopoly over millions of people, providing a service that is indispensable to its customers. If it raises prices, customers have no choice but to pay those prices. Recognizing this, the government imposes some regulation. It cannot set arbitrarily high prices, but it negotiates with the government to obtain prices that guarantee a steady profit rate.