By that logic any time a business fails and it impacts a lot of people the losses have “been socialized”.
And CA is far from a free market. The PUC has PG&E on a short leash and the results have been a disaster.
Edit: Replying - No, bankruptcy is actually the exact opposite of socializing losses.
Hint: Socialized costs.
People throw that term around without actually knowing what it means
By that logic any time a business fails and it impacts a lot of people the losses have “been socialized”.
And CA is far from a free market. The PUC has PG&E on a short leash and the results have been a disaster.
Edit: Replying - No, bankruptcy is actually the exact opposite of socializing losses.