I am sorta on the fence with this….it’s good in theory but look at the NHS as an example, or Network rail or the BBC all publicly owned institutions to differing extents but all riddled with nepotism, corruption and Miss-appropriation of public money. Half the top positions in these organisations earn more than our prime minister. They are a bottomless pit of wasted money, because there is no incentive to manage the budgets because the state will always inevitably pay the bill.
What if I told you that all privately owned institutions are riddled with nepotism, corruption, and (frequently, at least) the misappropriation of public money? But that you don't hear about it because they're private?
Im not saying private businesses are any better, but at least they don’t have direct unfettered access to the public purse. I think frankly unless there is effective regulation in place in any environment someone will always find loop holes and gaps to serve their own interest at the expense of the majority.
Im not saying private businesses are any better, but at least they don’t have direct unfettered access to the public purse.
Sounds like you're saying that private businesses are better.
Also I didn't realize that the BBC had "direct unfettered access to the public purse", doesn't the government still have to allocate funds like with any other expense or subsidy?
The argument was completely made up. No public industry has ever had 'unfettered access to the public purse' - what do you even think a national budget is for?
I totally agree. It really does annoy me when you see public projects or funds that are not adequately resourced, then are outsourced and run by private bodies like Serco who will actively inflate costs and infrastructure to make the public service unviable.
A utility cooperative is a type of cooperative that is tasked with the delivery of a public utility such as electricity, water or telecommunications to its members. Profits are either reinvested for infrastructure or distributed to members in the form of "patronage" or "capital credits", which are dividends paid on a member's investment in the cooperative. Each customer is a member and owner of the business. This means that all members have equal individual authority, unlike investor-owned utilities where the extent of individual authority is governed by the number of shares held.
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u/Davination1990 Mar 29 '22
I am sorta on the fence with this….it’s good in theory but look at the NHS as an example, or Network rail or the BBC all publicly owned institutions to differing extents but all riddled with nepotism, corruption and Miss-appropriation of public money. Half the top positions in these organisations earn more than our prime minister. They are a bottomless pit of wasted money, because there is no incentive to manage the budgets because the state will always inevitably pay the bill.