15 Jul 2014

Capitalism and blind privatization needs reform. People are being ignored.

"You should listen these wheels work well"

Is the system broken or spoiled by the blind belief that the free market can fix everything.

Privatisation isn't working. We were promised a shareholding democracy, competition, falling costs and better services. Most people's experience has been the opposite. Energy to water, rail and public services, the reality is we have private monopolies, subsidies, exorbitant prices, under-investment and blatant profiteering.
Private cartels run rings round the regulators. Consumers and politicians are compromised by commercial secrecy and contractual complexity.

Workers have their pay and conditions slashed. Control of essential services has passed to corporate giants based overseas, however these companies are themselves often state-owned – they're just owned by another state, not Australian.
Every report has shown privatised services are more expensive and inefficient than their publicly owned counterparts. It's not surprising that a large majority of the public, who have never supported a single privatisation, don't trust the privateers or don't want them running their services.

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