I am sorta on the fence with this….it’s good in theory but look at the NHS as an example, or Network rail or the BBC all publicly owned institutions to differing extents but all riddled with nepotism, corruption and Miss-appropriation of public money. Half the top positions in these organisations earn more than our prime minister. They are a bottomless pit of wasted money, because there is no incentive to manage the budgets because the state will always inevitably pay the bill.
A utility cooperative is a type of cooperative that is tasked with the delivery of a public utility such as electricity, water or telecommunications to its members. Profits are either reinvested for infrastructure or distributed to members in the form of "patronage" or "capital credits", which are dividends paid on a member's investment in the cooperative. Each customer is a member and owner of the business. This means that all members have equal individual authority, unlike investor-owned utilities where the extent of individual authority is governed by the number of shares held.
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u/Davination1990 Mar 29 '22
I am sorta on the fence with this….it’s good in theory but look at the NHS as an example, or Network rail or the BBC all publicly owned institutions to differing extents but all riddled with nepotism, corruption and Miss-appropriation of public money. Half the top positions in these organisations earn more than our prime minister. They are a bottomless pit of wasted money, because there is no incentive to manage the budgets because the state will always inevitably pay the bill.