The opportunity of company towns is the opportunity of dictatorships: with fewer decision makers, longer-sighted decision can be rammed through.
For example, California could presumably make better housing decisions if existing property owners didn't get a say.
That said, the weaknesses of dictatorships obviously apply equally. A benevolent dictator leads to great happiness; a terrible one leads to hell that can only be overthrown by revolution.
For example, California could presumably make better housing decisions if existing property owners didn't get a say.
That said, the weaknesses of dictatorships obviously apply equally. A benevolent dictator leads to great happiness; a terrible one leads to hell that can only be overthrown by revolution.