by The Hidden Cost of Privatization by Nina Shapiro at Institute for New Economic Thinking is an excellent read. This conception of government, of course, is not new. “Small government” has been a hallmark of the Republican Party for decades, and the privatization of government properties and services has been increasing worldwide since the 1980s. In the earlier period it centered on the privatization of state-owned enterprises, but in more recent times it has shifted to government services (after the 1980s, there were not many government enterprises left to sell off). Privatization today is both more varied and extensive than it was in the past, and since its objective seems to be nothing less than the privatization of the state itself, the question of the
Topics:
Dan Crawford considers the following as important: politics, Taxes/regulation, US/Global Economics
This could be interesting, too:
NewDealdemocrat writes Real GDP for Q3 nicely positive, but long leading components mediocre to negative for the second quarter in a row
Joel Eissenberg writes Healthcare and the 2024 presidential election
Angry Bear writes Title 8 Apprehensions, Office of Field Operations (OFO) Title 8 Inadmissible, and Title 42 Expulsions
Bill Haskell writes Trump’s Proposals Could Bankrupt a Vital and Popular Program Within Six Years
The Hidden Cost of Privatization by Nina Shapiro at Institute for New Economic Thinking is an excellent read.
This conception of government, of course, is not new. “Small government” has been a hallmark of the Republican Party for decades, and the privatization of government properties and services has been increasing worldwide since the 1980s. In the earlier period it centered on the privatization of state-owned enterprises, but in more recent times it has shifted to government services (after the 1980s, there were not many government enterprises left to sell off). Privatization today is both more varied and extensive than it was in the past, and since its objective seems to be nothing less than the privatization of the state itself, the question of the state’s “agenda” is critical. We must address the questions about the government that Keynes raised almost a century ago, and we must address them, as Keynes emphasized, without the laissez-faire presumptions of his times and ours, for it is not the case, as he famously wrote, that “private and social interests always coincide.”
…
The public has interests in common, such as the extension of markets and protection of persons and their properties, and the justness of laws and law enforcement matters too, as do educational opportunities.
(Adam) Smith highlights the importance of an educated public in his discussion of the functions of government. The government must facilitate the instruction of the people as well as the commerce of the nation, and this was the case even though that instruction could be provided privately, as the charges for it could be, and were, exorbitant. The wealthy could afford them, but the public at large could not.