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 Originally Posted by wufwugy
This assumes market forces are absent in those situations.
they are absent. Using the same example of the electric company....there is no competition.
If you're gonna say that light bulbs are competing with candles, just GTFO. There's ONE electric company and it controls the only existing infrastructure to deliver electricity.
Without competition, and without a better way to get electricity, power is removed from the consumers and given to the electric company. Maybe they don't do anything with it. But maybe they do. Maybe they decide that people are gonna just buy the electricity no matter what, so why not charge double??
Competition is a market force that would prevent that. It's missing. So the government restores the balance of power through oversight/regulation.
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