Comment by exe34
12 hours ago
aren't we told all the time though, that a board of directors beholden to shareholders and a god given edict to make numbers go up are the only way to do things efficiently, to be lean and productive? are you telling me that when people find there's a need for something to happen, they make it happen? for the good of mankind? no billionaires?
No, literally no one says that. But if all we needed was to hold hands and sing kumbaya then Africa would be Wakanda.
it's literally the BS we're given for privatisation. Here in the UK, the train network is shittier than ever and there's no competition. the water companies are literally pouring shit into the sea while paying themselves billions in dividends and putting the companies in massive debt.
we were told the profit motive and competition would make them efficient.
> we were told the profit motive and competition would make them efficient.
They believe their own propaganda unfortunately.
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Indeed, this was taught to me in the late-90s in A-level Economics as absolute undisputed fact. The path forward had become clear whereas it hadn't been understood previously. It annoys me now, looking back and knowing it's such an incredibly naive take on how capitalism works. Was it naivety on the part of the teacher, or propaganda slipped into the curriculum? I don't know.
A separate issue worth mentioning is that the water companies (as opposed to trains, gas, electricity, Royal Mail, etc) don't fall under this because they were privatised as regional monopolies. The government didn't even (pretend to) attempt to create competition.
They have! They're way more efficient at making their owners rich. Before, there was this whole "having to provide a service" thing that cost money and drove down the efficiency of moving money from the public to their wallets. Now, it's way better!
> But if all we needed was to hold hands and sing kumbaya then Africa would be Wakanda.
Are you of the impression that the problems African nations are facing is that they're holding hands and singing too much? Are the Africans just lazy?