Comment by exe34
5 hours ago
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.
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.
> we were told the profit motive and competition would make them efficient.
They believe their own propaganda unfortunately.
I just find it odd that people would still defend them like this. They don't seem to realise you can buy boot polish in tins nowadays. but maybe they like the fresh taste of dirt on it.
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!