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+1 for this. When working in Germany I talked to citizens who told me their state is also heading that direction. More things are denationalized so private com
by VvR-Ox 7y ago
+1 for this. When working in Germany I talked to citizens who told me their state is also heading that direction.
More things are denationalized so private companies now have the responsibility but also the revenue (like "Autobahn" or some time ago the post).
When I understand it correctly those where initially financed by public money so it seems like this investment is now being absorbed by the companies overtaking the business.
Accordingly there are strong voices who demand less control of the economy by the government.
I think they had a good system running (look at the numbers) and now they destroy that by adopting the ideas of the US-system.
- Arubis 7y agoThe flippant-yet-accurate description I've heard of this is "socialized losses, privatized profits".
- hedora 7y agoI’ve heard, “public risk, private profits”. That ends up including things like utilities, but also most of the US automotive industry, banks, etc. (It also requires the listener to have an understanding of expected value, and other basic statistics.) “socialized losses, private profits” seems to include any government spending that benefits society, such as public ownership and funding of roads, but private shipping companies (and all the industries that rely on them) profiting from their existence.