When I did my MBA at Cranfield University (then called Cranfield Institute of Technology) in the UK in 1991/1992 I said that electricity and other infrastructure like railways should NEVER be privatised. And that competition should be allowed. No one listened to me. I was only 28 years old and privatisation was in fashion! The reason that they should not be privatised is because private enterprise seeks to make a quick return and "knows" that if it leaves infrastructure alone, eventually the government will have no option but to renationalise those assets to pump in the required investment. Another reason is because of something called "externalities." This is where one person pays for someone else's travel. eg I go from London to Birmingham on the express. A small part of my ticket pays for a train to run on a line in the North West of England. I'm happy to pay that because one day I might need to use that line. This happened to me twice a year whe...
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