Season 1 · Episode 316
Energy, a free market failure
Energy prices are sky rocketing, but why aren't lower priced renewables bringing the price down?
Debunking Economics - the podcast · Steve Keen & Phil Dobbie
September 14, 202238m 22s
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Show Notes
It’s clear, when energy becomes short in supply, free market forces can’t look after all of society. Just the wealthy. That’s why governments are having to step in, propping up an industry that is raking in massive profits. But could free market forces drive a more efficient delivery of energy, by making lower cost renewable energy able to compete on a more level playing field. Whilst there’s no doubt pricing is distorted in favour of fossil fuel provides, Steve tells Phil there’s still no option but to nationalise the provision of energy, something we know will never happen.
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