There is always moaning about the functioning of a market economy. The latest fuss comes from Which?, concerning the operation of the energy market. The complaint is that companies arrive, charge unsustainably low prices, go bust and customers — 283,000 households this year — get transferred to companies that charge more. That last being what keeps the lights on, as they don’t go bust.
This isn’t a problem, nor something to be regulated away. Which? seems not to realise that suppliers going bankrupt isn’t an error of the system, it’s the designed function of a market economy.
Sadly, the editor changed my use of “mither” to moaning in that first sentence.
Pity, I like the world mither…..