In the news this week is the price rise of fuel – electricity and gas. The prime minister was criticised for suggesting that consumers change energy suppliers.
This would be ineffective as all the big fuel providers will put up their prices. So switching is pointless.
So some people in the UK will be forced this winter to choose between food, or heating. While the fuel companies make dividends for their shareholders. The argument is that the market will balance this out.
Competition will allow consumers to choose between companies and find a better price. But this cannot happen if the market is closed to only a few big companies.
There is a view that the UK privatised energy market does not work.
It appears to be working fine. The shareholders are happy. The energy suppliers have a captive market of consumers who cannot go anywhere else. Like printing money.
The dogma of the free market has always been about profit. The people who follow the dogma of the free market are those who are going to profit most out of it. It was always so.
The trick was in the marketing of the free market. It will be good for the consumer. Good for the customer. More choice. Cheaper prices. Perhaps this is the real success of the free market.
It has been sold to the consumer as the only good idea.
Copyright Adrian Scott North London Counsellor Blog 2013
All rights reserved
Disclaimer: This weblog is the view of the writer and for general information only.
This article is designed to provoke argument and critique.