The agenda of austerity economics is supplemented with the sale of public assets via privatisation programmes. Neoliberal dogma argues that this ‘structural reform’ aims at ‘reducing the government’s deficit and debt’ and to induce ‘competitiveness’. Orwell would have been impressed by this exercise of doublespeak.Classical thinkers such as Adam Smith and John Stuart Mill viewed State assets such as ports, water, electricity, railway companies, the hospitals and the universities as entities, which are not supposed to operate for profit but rather to establish an infrastructure in the country conducive to providing a stable and low cost environment for all citizens and the business world, within which they could pursue their interests. Public investment and ownership is

Read More »