self-regulations simply doesn't work
Not the way it's been tried. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
There has never been such a complete bollocks as the UK electricity market.
But then it is designed to extract the maximum short term profit for shareholders, because their agents are essentially the ones who designed it. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
The point is that deregulation and unbundling is only advocated by those who stand to profit from destroying a working system. It is wasn't for them nobody would have thought of doing it, therefore it doesn't work irrespective of how it's done, because those who might "do it well" won't do it in the first place. We have met the enemy, and he is us — Pogo
