by Everything now has to be privatised, but this is pushing the cost of living up, say's Micheal Hudson, and making American companies less competitive abroad. He describes a world where once the government provided the infrastructure including the energy in Europe and the UK at cost to companies and consumers. Privatisation was supposed to make public companies more efficient when they became privatised, but prices have shot up instead. Micheal Hudson says it's a racket.The Chinese had six great civilisations, but they all crumbled for the same reason. When the empire is young there are mainly small business and the economy thrives, but as the empire matures some business become very large indeed. The owners of these companies become so wealthy that they start to set up mini monopolies,
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The Chinese had six great civilisations, but they all crumbled for the same reason. When the empire is young there are mainly small business and the economy thrives, but as the empire matures some business become very large indeed. The owners of these companies become so wealthy that they start to set up mini monopolies, like Amazon and Walmart today, and they squeeze all the small businesses out of the market. Also, the new mega rich merchant class begin to gain control over the emperor and they get all the tax burden shifted away from themselves and onto the people. Eventually, the ordinary people have no spending money left and the whole economy dies. After that there is a revolution and the emperor and all of the elite get killed. KV
Trump's infrastructure privatization plan is a hat trick that optimistically turns $200 billion into $1.5 trillion, is designed to eliminate the public sector and to bankrupt cities and states, says economist Michael Hudson.