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This and there is another reason why privatization creates inequality. It is a proven method for the oligarchs to rob public assets. First they put their friend
by pabloski 10y ago
This and there is another reason why privatization creates inequality. It is a proven method for the oligarchs to rob public assets. First they put their friends as key figures of a public company. These people let the company rot, so its price on the market goes down. Then the oligarchs buy it at a ridiculously low price.
They even made it with an entire country: Russia. And this is why they ( the western backed oligarchs ) are screaming against Putin ( and the oligarchs backed by him ) since then.
- tomp 10y agoAnother country where this was done almost successfully is Slovenia. But then the Great Financial Crisis happened and the "ridiculously low price" actually turned out to be too high as the companies started going bankrupt.