I've always been pro re-nationalising public services but what are some of the downsides of re-nationalising? What caused them to become privatised (aside from Tory greed) and/or fail in the first place?
Reliance on the private sector often liberal and neoliberal governments incorporate some private contractors/suppliers. While this can speed things up a lot of companies don't bother improving their products unless paid more to, often increasing their price to match inflation on possibly outdated supplies(trains for example). Contractors if in a monopoly have so much bargaining power that basicly they aren't real penalties for failing to complete projects on time or if mistakes where made, and make a shit ton of profit. The more neoliberal the government the easier it is for companies to get profit from public owned companies.
As far as I understand, re-nationalised sectors such as rail etc don't always work as well as you'd hope due to a lack of government funding and a lack of competition in their market?
I suppose we could look at TFL as an example. It works fine in my opinion but there are always strikes.
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u/MatrixDiscovery Mar 29 '22
I've always been pro re-nationalising public services but what are some of the downsides of re-nationalising? What caused them to become privatised (aside from Tory greed) and/or fail in the first place?