Can We Try Something Else Now?
The failure of "privatization" and "out-sourcing" of the Iraq war and reconstruction has resulted in billions of dollars going missing in Iraq. Contractors have been skimming profits - although considering the magnitude of the thefts, "skimming" may be too small a word.
The failure of "de-regulation" led to the California energy crime spree a few years ago - you can't call it a crisis, really, it was created by criminals at Enron and other energy trading companies.
We are now finding out why, over, oh I don't know how many years - 229? - why there was regulation and government run enterprises. Could it be that people are easily tempted, and need oversight?
The failure of "de-regulation" led to the California energy crime spree a few years ago - you can't call it a crisis, really, it was created by criminals at Enron and other energy trading companies.
We are now finding out why, over, oh I don't know how many years - 229? - why there was regulation and government run enterprises. Could it be that people are easily tempted, and need oversight?
posted by Pheidias at 12/06/2005 (link)
1 Comments:
It may be that they are not, in fact, 'deregulating' things at the moment. I think the appropriate buzzword in this case might actually be 'cronyism'.
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