PG&E’s Failure Show the Dangers of Government-Imposed Utility Monopolies

When companies become deeply politicized, as almost all utilities are, weird things can happen. Sometimes it’s worse than just weird, as is the case in California now.
(From Mises)

When a company screws up so horribly, letting down literally millions of its customers and moreover promising to continue doing so for another decade (!), the obvious question is: Why don’t they go out of business?…

…The answer, of course, is that the California government forbids PG&E’s customers from switching to a competitor.

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