OF THE
TIMES
While privatization may lead to efficiencies in producing goods, it is generally only true under conditions of competition and regulation. The New Jersey Privatization Task Force asserted that "States that have had the most success in privatization created a permanent, centralized entity to manage both privatization and related policies aimed at increasing government efficiency."
- Privatization has generated large profits for new owners but these have not been shared with the general public.
- The potential benefits of privatization are often outweighed by high contracting costs and opportunism.
- Most privatization programs appear to have worsened the distribution of assets and income, at least in the short run.
Comment: In case you're lacking an idea of what is, and is about to befall the majority of us:
Euro zone crisis sends stock markets tumbling Wednesday in Greece and Spain
Order Through Chaos: Who Wants to Set the World on Fire?
Is the food shortage before us? Will we be buying bacon and pork sausages next year?