For years, “proponents of privatization have advanced the argument … that business will always perform a given task better than government, whether it’s running buses or schools, supplying healthcare or housing. The public sector is sclerotic, wasteful and undisciplined by the profit motive. The private sector is dynamic, innovative and, above all, efficient.
A profit-driven system doesn’t mean we get more for our money – it means someone gets to make more money off of us.
“This belief has become common sense in political life. It is widely shared by the country’s elite, and has guided much policymaking over the past several decades. But like most of our governing myths, it collapses on closer inspection.
“No word is invoked more frequently or more fervently by apostles of privatization than efficiency. Yet this is a strange basis on which to build their case, given the fact that public services are often more efficient than private ones.”
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