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by mimikatz
1390 days ago
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Economics is a science. If you try to push one way on the market price you will get problems on the other side, this is the same way you can't get past the laws of thermodynamics) . The cost of reducing people's profits (or cost is what we are talking about) will be shortages because people will still be willing to pay for more electricity at a higher price, they just won't be able to find it because it was sold at a lower price. |
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But siezing the windfall profits is also basic economics orthodoxy.
https://theguardian.com/australia-news/2022/jul/19/nobel-pri...
> The Nobel prize-winning economist Joseph Stiglitz has called for a windfall profits tax, arguing the idea is a “no-brainer” that has been taken off the table due to the influence of big companies