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Privatisation pitfalls

Posted by Anonymous User 
Anonymous User
Privatisation pitfalls
May 05, 2012 10:22PM
In their attack on public interest and entities the demented right forgets the public interest. In short privatisation
means socialization of risk and privatisation of profit

Here is an article from London

Debts 'threaten fire engine company's ability to tackle high-rise blazes'

Doubts raised over government's privatisation agenda as London operator's £78m debts limit its capacity to fight fires



link: [www.guardian.co.uk]
HHH
Re: Privatisation pitfalls
May 06, 2012 02:42AM
Where are the privatized profits? Where is the socialized bail out in this instance?

____________________________________________
Bernie - Not Usually a Meat Puppet.
Anonymous User
Re: Privatisation pitfalls
May 06, 2012 03:43AM
First of all the cheap price and the deferred maitainance The socialized risk is when they go bankrupt and the state has to continue the service usually by buying it back. That was the case with the railroads.
The concept that private industry is more capable of running a business is bull shirt especially those that have a social purpose
HHH
Re: Privatisation pitfalls
May 06, 2012 06:44AM
I think it's more critical that the governing councils maintain proper oversight over whatever option is chosen for delivering services and that change is demanded when those hired fall short. If a private company cannot provide the service as contracted for, it must be replaced.

____________________________________________
Bernie - Not Usually a Meat Puppet.
Anonymous User
Re: Privatisation pitfalls
May 06, 2012 07:43AM
What kind of chages do you call for with the failure of "free mamrket economics?"
Re: Privatisation pitfalls
May 06, 2012 09:14AM
A.L. Brigade Wrote:
-------------------------------------------------------
> First of all the cheap price and the deferred
> maitainance

More efficiency is guaranteed in private hands for obvious reasons.

The socialized risk is when they go
> bankrupt and the state has to continue the service
> usually by buying it back. That was the case with
> the railroads.

There is neither a fear of bankruptcy, nor are there incentives for efficiency and growth when it's govt owned. So it goes to the dogs.

> The concept that private industry is more capable
> of running a business is bull shirt especially
> those that have a social purpose

What you say is bullshirt as far as India is concerned. For eg. if you look at the 2 prominent airports in Kerala, one is govt owned and the other is managed by a private entity. You can see the difference immediately.

Maddie
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