A Quote by Bethany McLean
Privatization of assets that most of us consider public goods - like airports and highways - has a long, often-uncontroversial history.
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What we mean by an outcome will naturally depend on the context. Thus, for a government charged with delivering public goods, an outcome will consist of the quantities provided of such goods as intercity highways, national defense and security, environmental protection, and public education together with the arrangements by which they are financed.
Somebody's buying these treasury bills at 1/20th of one percent. I mean we consuming about $2 billion a day of goods and services beyond what we're producing.As long as we consume more than we produce, and we trade away little pieces of the country daily, they're going to own something. Now, they can't run from American assets. I mean every day the rest of the world is going to have about two billion more of American assets than we have, as long as they sell us these goods.
Income is sucked upward to the creditors, who then foreclose on the assets of debtors. This shrinks tax revenue, forcing public budgets into deficit. And when governments are indebted, they becomemore subject to pressure to privatization of public enterprise.
I grew up in airports and on air bases. I know what flying and airports can be. And most airports make me feel like we're about three per cent better than ants. Especially U.S. airports. They're zoos. All civility is gone.
Local airports serve an important role as economic and public safety assets for communities across the state.
Consider one possible future that could occur soon, where autonomous trucks travel highways with a human 'monitor' in the cab who can assist with particularly challenging driving like navigating city centres and ensure goods are delivered safely.
If I buy a car, I use the car, you don't, and the market for cars works pretty well. But there are many other sorts of goods, often very important goods, which are not provided well through the market. Often, these go under the heading of public goods.
Whether you agree or disagree with privatization, two things are obvious. First, taxpayers need to be asking more and better questions before handing over control of critical public assets like a highway, an airport, or a parking meter concession. And second, Uncle Sam is being played for a sucker.
Secretary Clinton, right from day one, wants to do real investment in public works and infrastructure, building highways and bridges, building airports, to doing what we need to do that way which lifts the economy up, undoubtedly.
More people are interested in trying to shuffle paper assets around than building lasting assets by producing real goods.
The reflection and experience of many years have led me to consider the holy writings not only as the most authentic and instructive in themselves, but as the clue to all other history. They tell us what man is, and they alone tell us why he is what he is: a contradictory creature that seeing and approving of what is good, pursues and performs what is evil. All of private and public life is there displayed. ... From the same pure fountain of wisdom we learn that vice destroys freedom; that arbitrary power is founded on public immorality.
That would be nice if [people] stuck [treasury bills] all under a mattress, but they got to buy something with them. Sometimes they buy a treasury note, sometimes they set up sovereign wealth funds. They can do all kinds of things. They can buy our companies here. As long as we consume more than we produce, and we trade away little pieces of the country daily, they're going to own something. Now, they can't run from American assets. I mean every day the rest of the world is going to have about two billion more of American assets than we have, as long as they sell us these goods.
We have an extensive system of highways, ports, locks and dams, and airports.
Collective insurance policies and social protections have given way to the forces of economic deregulation, the transformation of the welfare state into punitive workfare programs, the privatization of public goods and an appeal to individual accountability as a substitute for social responsibility.
The best measure of how a democracy is functioning is how it allocates the goods of the land, the public trust assets.
Capital investment in fixed assets that produce real goods is the actual driver of long term economic growth, and until slick financiers hijacked the country with 'new economy' mumbo-jumbo based on computer models and hype most Americans understood this.
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