“But the gap where the economic rationale for privatising council houses should be becomes a window through which it becomes possible to see beyond the individual privatisations to the meta-privatisation, and its one indisputable success: that it put more money into the hands of a small number of the very wealthiest people, at the expense of the elderly, the sick, the jobless and the working poor.” In an article that should be regarded as compulsory reading for citizens everywhere, James Meek looks back at 35 years of privatising UK industries.
Tag: equity
Shares go up and down – economy going nowhere
“Western capitalism will be able to cope with instability in the markets. But at what price in terms of economic and social stagnation? The danger is that our wider aspirations and horizons are falling further while we remain fixated with the ups and downs of share and property prices”, writes Mike Hume.