Beijing tightly limits the maximum price of electricity—causing generators to reduce their supply or shut down rather than lose money.
It sucks to lose power, but if the choice is between electricity rationing for all vs increasing the price (aka electricity rationing for the poor), I think most people here would choose electricity rationing for all. Everything else in this article is about how interconnected the global economy is - the pandemic fucked up global supply chains, China has reduced electricity generation as a result of their fucked up coal supply (which is partially exacerbated by the dumb "trade wars" between them and Australia/the US), this reduces the output of Chinese factories, which further fucks up global supply chains.
Money is still a proxy for labor hours. A poor one, but it discourages waste and "entrepreneurs" setting up Bitcoin farms and raising emissions.
Mismatching exchanges of labor value causes or exacerbates shortages and inflation. Look at the trouble Venezuela got into by over-subsidizing food when supply could not meet demand.
Or (oversimplified) when Soviet factories overpaid certain workers and allowed them to trade the equivalents of 1 hours work in energy generation for 2 hours work in agriculture, allowing workers to buy more meat and speciality items that distributers could fulfill.
Look at the trouble Venezuela got into by over-subsidizing food when supply could not meet demand.
Could you give me some links to read up more about this from a leftist perspective?
Or (oversimplified) when Soviet factories overpaid certain workers and allowed them to trade the equivalents of 1 hours work in energy generation for 2 hours work in agriculture, allowing workers to buy more meat and speciality items that distributers could fulfill.
It sucks to lose power, but if the choice is between electricity rationing for all vs increasing the price (aka electricity rationing for the poor), I think most people here would choose electricity rationing for all. Everything else in this article is about how interconnected the global economy is - the pandemic fucked up global supply chains, China has reduced electricity generation as a result of their fucked up coal supply (which is partially exacerbated by the dumb "trade wars" between them and Australia/the US), this reduces the output of Chinese factories, which further fucks up global supply chains.
Also, China does the opposite of America when there's power shortages.
They shut down Factories > Commercial centers > Homes
The US goes Homes > Homes > Homes
"If your house is cold, stay at work!"
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Money is still a proxy for labor hours. A poor one, but it discourages waste and "entrepreneurs" setting up Bitcoin farms and raising emissions.
Mismatching exchanges of labor value causes or exacerbates shortages and inflation. Look at the trouble Venezuela got into by over-subsidizing food when supply could not meet demand.
Or (oversimplified) when Soviet factories overpaid certain workers and allowed them to trade the equivalents of 1 hours work in energy generation for 2 hours work in agriculture, allowing workers to buy more meat and speciality items that distributers could fulfill.
Could you give me some links to read up more about this from a leftist perspective?
Damn.
Removed by mod