3 ms·
London Underground was privatised, then the government had to step in to rescue the firm that went bankrupt...
by gotofritz 9y ago
London Underground was privatised, then the government had to step in to rescue the firm that went bankrupt...
- dsfyu404ed 9y agoFine. Sell it to some investment firm, let the new owners run it with zero empathy, pay off whoever they need to pay off to kick out the union, reduce headcount, cut benefits, sell off assets and all the other things you expect and investment firm worth anything to do when it acquires something. Then in a decade when that becomes untenable and the public demands the state take back over the state takes back over and inherits a much different and more workable mess than it has at present. The hole is very deep. There's no way out that isn't slow and painful.
- jblow 9y agoTokyo subway is privatized and is very very good.
- fjsolwmv 9y agoWhat works in Japan may supremely fail in US. This article looks promising, but then think about the disaster that is the private ISP industry or the red-light camera industry in the US. The US is bad at privatization, we tend to turn it into exploitative subsidies of crony capitalists. http://marketurbanism.com/2010/12/22/japanese-transit-and-what-it-can-teach-us/ http://marketurbanism.com/2010/12/22/japanese-transit-and-wh...