this post was submitted on 07 Jan 2025
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It's not so much capitalism that breeds innovation, but competition. If there's no competition, where's the incentive for companies to innovate or improve in any way?
Take the private water companies in the UK as an example. You can't choose a different provider, and the service they provide has been getting steadily worse over the years, to the point where they don't improve infrastructure and we end up with Victorian pipelines pumping sewage into our rivers and seas. But nobody can change provider unless you move to a different part of the country, so there's no incentive for the companies to improve anything.
So the amount of competition is the exact same as when it was run by the government like crucial infrastructure is supposed to, but the quality is the same or worse?
Sounds about capitalistic..
It's almost like basic utilities should be provided by government to all citizens.