From Salon and Alternet, a concise summary of the ways privatization is draining America and strop-mining public assets.
“A grand delusion has been planted in the minds of Americans, that privately run systems are more efficient and less costly than those in the public sector. Most of the evidence points the other way. Private initiatives generally produce mediocre or substandard results while experiencing the usual travails of unregulated capitalism — higher prices, limited services, and lower wages for all but a few ‘entrepreneurs.’
With perverse irony, the corruption and incompetence of private industry has actually furthered the cause of privatization, as the collapse of the financial markets has deprived state and local governments of necessary public funding, leading to an even greater call for private development. As aptly expressed by a finance company chairman in 2008, “Desperate government is our best customer.”
The author, Paul Buchheit teaches economic inequality at DePaul University. He is the founder and developer of the websites UsAgainstGreed.org, PayUpNow.org and RappingHistory.org, and the editor and main author of “American Wars: Illusions and Realities” (Clarity Press).
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Table of Contents
- Nationalize the Federal Reserve
- Alaska could walk away from Wall Street with a public bank of its own
- PBI Newsletter, November/December 2013 – Stemming the Transfer of Wealth from Main Street to Wall Street with Publicly-Owned Banks
- Public Banking Forum of Ireland: Press Release, 2 December 2013
- From the Progressive! Public Banking Is the Answer
- RT News: Ellen Brown on Public Banking and Costa Rican Banking System
- 10 year old explains the truth about where money comes from…
- The Bank Guarantee That Bankrupted Ireland
- VIDEO: Time to think outside the box – Public Banking – Ellen Brown’s talk in Athlone, Ireland
- Wall Street Predators And Con Men… Or Public Banking?