Privatization and Efficiency

photo of USPS train stamps

Many MBAs and entrepreneurs try to convince the public that privatization is always better than the alternative. Not the case. The London Times reports today that an international study ranks Britain’s trains as 13th fastest in the world, whereas they were 2nd back in the 1970s before privatization in the 1990s.

Lady Thatcher saw privatization as “fundamental to improving Britain’s economic performance.” She was wrong.

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