Ordinary capitalism - privatize profits and nationalize losses.
How to understand the woeful state of Britain’s water utilities https://www.economist.com/britain/2023/07/06/how-to-understand-the-woeful-state-of-britains-water-utilitiesThe news was one more blow to embattled Thames Water, which has enjoyed a local monopoly over providing water and managing sewage in the river’s drainage basin since the utility was privatised in 1989. That dominant market position has not stopped Thames from being plunged into turmoil and facing questions over its solvency. Its troubles came to public attention when the chief executive, Sarah Bently, unexpectedly resigned on June 27th, two years into an eight-year turnaround plan. The company’s shareholders, mostly pension funds, have ponied up only £500m of the £1.5bn that the company seeks to change its fortunes. A spell of temporary nationalisation may be needed.
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economics
