Firms driven by transient investors act as entities independent from society entirely. Each one is focused only on maximizing profit to please investors; the investors, likewise, are only interested in the next quarter, because at any given time they can take their investment and sell it. They are simultaneously putting money into renewables, but only insofar as it is profitable; as long as fossil fuels (still the larger portion of energy generation in most places) are more profitable, they will put more money into it. A self-feeding cycle which starves renewables.
The thing that is sometimes misunderstood by a disdain for the owner class is the incoherence of the owner class. They don’t make plans. Even their alignments are only because of common interests (such as ‘let the ultrawealthy investors make more money from their shitty investments’), not ideology or long-term plans.
“Firms driven by transient investors act as entities independent from society entirely.”
This just made something click in my understanding of why this stuff is so awful. I feel like I already understood it before, but now I feel like that’s deeper
I think there is more to it. I think it’s more about the power. How do you control someone who has their own solar panels? Several other reasons that only sick people would think of, like wanting to kill off the plebs,so they have less competition.
Firms driven by transient investors act as entities independent from society entirely. Each one is focused only on maximizing profit to please investors; the investors, likewise, are only interested in the next quarter, because at any given time they can take their investment and sell it. They are simultaneously putting money into renewables, but only insofar as it is profitable; as long as fossil fuels (still the larger portion of energy generation in most places) are more profitable, they will put more money into it. A self-feeding cycle which starves renewables.
The thing that is sometimes misunderstood by a disdain for the owner class is the incoherence of the owner class. They don’t make plans. Even their alignments are only because of common interests (such as ‘let the ultrawealthy investors make more money from their shitty investments’), not ideology or long-term plans.
This just made something click in my understanding of why this stuff is so awful. I feel like I already understood it before, but now I feel like that’s deeper
I think there is more to it. I think it’s more about the power. How do you control someone who has their own solar panels? Several other reasons that only sick people would think of, like wanting to kill off the plebs,so they have less competition.