The Public Is Being Looted By Privatization And Deregulation — Paul Craig Roberts

http://www.paulcraigroberts.org/2016/02/23/the-public-is-being-looted-by-privatization-and-deregulation-paul-craig-roberts/

The privatization movement and the deregulation movement have turned out to be failures.
Privatization in Britain under the Thatcher government had its origin in the belief that the absence of incentivized managers and shareholders with a stake in the bottom line resulted in nationalized companies operating inefficiently, with their losses covered by government like the big private banks’ losses today. Thatcher’s government believed that privatizing socialized firms would reduce the UK budget deficit and take pressure off the British pound.