: "Privatisation can create a new range of government bureacracy that exceeds any burden under public ownership" [ie LESS efficient]
Thats the key sentence. Privatisation creates new government bureacracy? How so? No, it is government who decides, upon privatisation, to replace its absolute control with a set of laws and regulations in order to have the nominally private owners effectively as 'puppets on a string'. To give the appearance of private ownership whilst regulating such to the degree that the 'private owner' can make no decision regarding 'his' property without referring to the regulator.
: "If it is difficult to regulate a privatised firm and this firm can engage in undesirable practicces then public ownership...may be prefferred".
And here is the reasoning. What exactly are "undesirable practicces", who decides, and who decides which organisations fall under its scrutiny.
: Comments anyone?
interesting example of the disease blaming the cure.