In Government We Trust: Market-Failure and the Delusions of PrivatisationNeoliberalism has had a huge impact on our lives over the past three decades, convincing governments in liberal democratic states to transform themselves and society according to the values and practices of the market. In Government We Trust examines these promises within the context of market failures in services relinquished to the private sector by governments. Using prominent examples such as the collapse of Railtrack in the UK, the energy crisis in the US and the Sydney water treatment scandal in Australia, it exposes the level of risk which remains with government after privatisation, requiring them to resume responsibility when the private sector fails. The authors show how these failures reveal the benefits of government intervention and the dangers of unfettered markets. They argue that these problems confirm that there are some things only governments can and should do. |
Contents
CONTENTS | 1 |
selfinterest vs public interest | 33 |
The proper ends of government | 75 |
Copyright | |
4 other sections not shown
Other editions - View all
In Government We Trust: Market Failure and the Delusions of Privatisation Warwick N. Funnell,Robert Jupe,Jane Andrew No preview available - 2009 |
In Government We Trust: Market Failure and the Delusions of Privatisation Warwick Funnell No preview available - 2009 |
Common terms and phrases
allowed argued Australia benefits Britain British Energy British Rail California cent centre citizens Commons Select Committee competition concern consequences Conservative consumers contract corporation costs crisis democratic deregulation Despite economic efficiency electricity industry Energy Regulatory Commission Enron ensure freedom Friedman government's Guardian Hayek House of Commons increased individuals infrastructure intervention investment Labour government liberal liberal democratic London Underground maintenance major market failure marketisation ment Mercury Energy Metronet million monopoly motive National neoliberal nuclear OFWAT organisations performance political private contractor private prisons private sector problems profit protect Public Accounts public choice public choice theory public interest public sector public services rail privatisation Railtrack railway recognised reform regulation responsibility result risk role safety self-interest shareholders significant Smith social society subsidy supply Thatcher tion train operating companies Transport Transport for London twentieth century utilities values water companies well-being Woomera