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The transfer of ownership of property or businesses from a government to a privately owned entity.
When a government chooses to take an industry into state ownership in order to safeguard the supply of a good or service.
Advantages of Privatisation
Disdvantages of Privatisation
Advantages
of Nationalisation
Natural Monopoly
Externalities
Welfare Issues
Industrial Relations
Government Investment
Disdvantages of Nationalisation
• Burden on Government
• No/Limited competition
• No accountability to shareholders
• Unnecessary interference
• Undisciplined labor force.
At first glance, private hospitals seem to be more effective in patient outcome but are less efficient in terms of availability
Privatization is an option to improve congestion but research shows that this can only benefit from the government remaining a third-party payer (Canta)
Not only would privatizing individual hospitals improve their individual effectiveness and efficiency, but it would also relieve the hospitals that remain public and available on a wider scale
Therefore, not a matter of extreme nationalization or privatization, but a balance
Public schools have become victim to the school-prison pipeline
Constant budget cuts to education by state to leave money for defense expenditures
Private schools are not affected by this
Private schools are not affected by mandated curriculum
Government expenditures on education are estimated at 1.1% of GDP
Basic salaries of education personnel reaching $601M in 2015 (around 6.8% of primary spending)
Success rates:
Intermediary exams: 64.4% for public schooling and 83.1% at private schools.
Secondary exams: the gap averaged 8.7 percentage points in favor of students in private establishments for the sections of Humanities, Life Sciences and General Sciences
Spread of Nationalisation
Would relieve the enormous budget strain off the government (~$7.6 bil 2012)
Competition between private security would ensure efficiency
Less leeway to commit civil rights abuses
Canta, Chiara. Public and Private Hospitals, Congestion, and Redistribution. Journal of public economic theory 18.1 01 Feb 2016: 42-66. Blackwell Publishing. 05 Mar 2018.
United States Congress (December 23, 2011). "CONSOLIDATED APPROPRIATIONS ACT, 2012" (PDF). United States Government Printing Office. Retrieved April 7, 2013.
Balko, Radley Q: Why Has the ACLU Been Silent About TSA Abuses? A: Because You Haven't Been Listening Archived July 11, 2016, at the Wayback Machine. Reason