I think that everyone ought to read the Guardian piece about the pollution of our waterways and the death of our rivers.
www.theguardian.com/news/series/the-long-read/2022/aug/04/all
Then tell us how good privatisation of our water has been.
The 'inefficient' and 'overmanned' idea of our nationalised industries was promoted by the Thatcher government to justify privatisation, but at heart, what she wanted was to disassociate the state from the 'socialism' of nationalised industries and utilities.
Interesting conclusion from a 2004 paper looking at privatisation
the UK’s experiment with privatisation came after decades of relative economic decline. The election of Mrs Thatcher occurred because of growing public discontent with poor economic growth, rising inflation, growing unemployment and poor labour relations in the UK. Privatisation has not proved to be an economic miracle. But as part of the wider restructuring of the economy that occurred in the 1980s, involving tax cuts, public spending caps, trade union reform and the closure of declining industries, it has contributed to reversing the perception of the UK as ‘the sick man of Europe’ – albeit that the UK’s GDP growth rate has not noticeably increased as a result.
www.researchgate.net/publication/5001632_The_UK's_Privatisation_Experiment_The_Passage_of_Time_Permits_a_Sober_Assessment
One of the problems with privatisation has been that, contrary to the belief that 'markets' are self regulating and offer the best value for money, the 'market' doesn't provide a social service, so the government has to subsidise uneconomic services that are needed by the population, like rural bus services, and left to itself the market will abandon standards wherever it can get away with it. There is also a tendency for monopolisation by the big companies, which restricts consumer choice (which was supposedly a benefit of privatisation) . This means they must be subject to regulation by the state, so there is still a cost element for the state. And when the state cuts costs for political reasons, as evidenced in the Guardian piece I've linked to, regulation fails and standards fall.
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