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Privatisation prices and benefits come under question
Published: 08 October, 2009, 22:58
Edited: 13 October, 2009, 07:00
Russia is launching a new privatisation drive, putting around 450 companies up for sale next year. That has some questioning where the buyers will come from and if prices will be bargain basement.
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I have worked for both private companies and government agencies. It has been my experience that the private companies produce a lot more at a lower cost than the government. Private companies tend to be more resourceful because they generally cannot depend on the tax payers to bail them out if they fail financially {until recently}. So there is an incentive for private companies to manage well and produce well in order to stay in business. Russia is getting it right.
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What we really need now is a valid alternative to the scam of the privatization of seigniorage profits.To tell that a sovereign state don't have enough money is like to say that a journalist don't have enough digits to write articles. You can tell about the corruption of the state by looking WHO get the monetary rent from the local money. Who print the money (banks and central banks), can indebt the state and buy privatized industries. With a sovereign money issuance you really don't need this to happen, you don't need any foreign funny paper with numbers on it because you can print it by yourself...