Quote:
Originally Posted by JurisDictum
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Thats true but the other side of the story is government investment is needed when the market finds such investment too risky. For example, spending a ton of money to bring electricity to the poor rural south in the 30s-40s.
Other inventions include -- IDK -- the internet, television, space travel etc...
We managed to do without paying some CEO millions are year.
Just remember that when the head of one of the 6 networks we have is going on about job creators and the wonders of the private sector.
When it comes to a wall I don't trust the private sector to build it cheaper even though it could theoretically. There is too little oversight on our government right now, everyone's hand is out, and the idea that we can hire a private company without getting the pants scammed off us and making a few more CEO millionaires is pretty laughable.
Even it was slightly cheaper, so what? It's got to be a lot cheaper to justify privatization at this point. If the government is wasting money, at least some of that waste goes to overpaid workers rather than just more overpaid capitalists.
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i agree on the problem of government engaging the private sector for hire to solve the problem. that was the point I was trying (but failed
[You must be logged in to view images. Log in or Register.] ) to illustrate. when the government engages private enterprise it gets fleeced because it lacks specialized expertise and has no profit motive. And no, the inflated prices that governmental entities pay enrich capitalists as much as they do workers, if not more.
this happens because the government is largely ignorant of what it is purchasing and in an attempt at responsible fund management seeks the most competitive prices which are often the least comprehensive / honest products. the entire structure is a beacon for slimeballs.
the private sector on its own achieves much better results. the problem is getting private entities to undertake public works on their own when there is often little to no profit motive.