Macrodose podcast arguing eloquently here that, as states can borrow money more cheaply than businesses, ANY privatisation of energy infrastructure is a deliberate policy decision to redistribute wealth from (poor) consumers to (rich) investors.
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Macrodose podcast arguing eloquently here that, as states can borrow money more cheaply than businesses, ANY privatisation of energy infrastructure is a deliberate policy decision to redistribute wealth from (poor) consumers to (rich) investors.
That's true, but there are corollaries.
Macrodose: The Break Down: Public Energy No.1 w/ Chris Hayes and Melanie Brusseler
Starting from: 00:13:05Episode webpage: https://podcasters.spotify.com/pod/show/macrodose/episodes/The-Break-Down-Public-Energy-No-1-w-Chris-Hayes-and-Melanie-Brusseler-e2o7rhk
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Firstly, on energy: a neighbour of mine who installs domestic solar power systems now routinely installs storage batteries. For people with grid connections, this means that they can store energy when it's cheap, and sell it back to the grid when it's expensive, arbitraging the price volatility. That's free money that rich people can make, which the poor – because batteries are expensive – can't.
But more...
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Secondly, any form of supplying public infrastructure through "public private partnerships" or equivalent scams – introduced by #Conservatives under John Major, popularised by #Labour under Tony Blair and Gordon Brown, and slavishly followed by the #SNP in years since – is equally a deliberate policy choice to transfer wealth from citizens to investors – and usually an effective choice to transfer wealth from your own economy to #TaxHavens