Originally Posted by
jon1959
The public sector can and does make money - for the public.
This false argument used to be a Feedy favourite back in the day. I remember a tortuously long thread that for a while looked at Council public works departments and the effect of privatisation (outsourcing). The same job was being done by the same people and paid from the same source - local tax, council tenant rents and an element of national government subsidy. Magically it changed from being a drain on public funds one day, to an exciting example of enterprise and profit the next (for executives and shareholders at least).
Nothing changed except a % of the funding was syphoned off and was not available to repair homes or roads.
It was presented as a case of public = bad; private = good. Maybe now that LOM has re-invented himself as the board's top economist (courtesy of mainly unacknowledged lifts from the Telegraph, FT or Economist) he could explain why this is so?