What an astounding thing it is to watch a civilization destroy itself because it is unable to re-examine the validity under totally new circumstances of an economic ideology.
—SIR JAMES GOLDSMITH
From the results, one can easily see that the whole point of privatization is neither economic efficiency nor improved services to the consumer but simply to transfer wealth from the public purse—which could redistribute it to even out social inequalities—to private hands.
The champions of corporate libertarianism gleefully greeted the disintegration of the Soviet empire in 1989 as a victory of the free market and a mandate to press forward their cause. Francis Fukuyama proclaimed that the long ...