In a major setback last week, the first serious effort to build small reactors in the United States was abruptly canceled amid soaring costs. While other projects are still moving forward, the industry has consistently struggled to build plants on time and on budget.
I consider myself a hybrid. Some things, a market just doesn’t work, like infrastructure and medicine.
Some things, like entertainment, restaurants, etc, REGULATED markets are best. Regulations are vital though. Costs can’t be externalized. No bailouts. Your business goes under, tough.
what if you’re too big to fail though? surely captains of industry would be bailed out like always
Then you get nationalized or broken up like ma bell.
then your “bailout” isn’t a bailout but a buyout by the public sector, and then probably split up and sold in parts to recoup whatever money they can and make sure it’s not too big to fail in the future
This is usually considered a Social Democrat. Or a Marxist. Using the government to limit the worst effects of capitalism. I especially love the idea that business can fail, something fought very hard for under capitalism - because capital never wants to lose.