| Posted: 26 April 2008 at 1:26am | IP Logged | 11
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"Easy to say living in a country with billions to burn in oil money. :)"
Well, kind of the point, there. If our country hadn't already been social-democrat with a commitment to keeping national/state control over resources, we'd have handed off all the oil revenue to private enterprise on the ridiculous assumption that all of society becomes prosperous by making a small group of people very, very rich. And we'd still be one of the poorest countries in Europe.
But the state did the bulk of the investments on its own (or our) behalf and now we're financially secure. Because we're a social-democratic country.
Just look at the US. All the logging and mining in national parks and proposed drilling for oil in the arctic --- all about opening it up for private entreprise, with subsidized roads and tax breaks etc. It'd be cheaper for the tax payer if the government did those investments on their own behalf and sold off the wood, the ore and the oil to pay down the national debt. Instead they go the roundabout way of thinking that if the government takes all the expenses and all the profits go to private enterprise, the country will prosper. (and that's not even going back to the days of the Robber Barons)
I'm betting the people doing the actual work don't care where their paycheck comes from, and the people who just sit back and collect the profits, what good are they anyway?
We've had privatization of government monopolies over the last few decades on the premise that prices would go down as a result. Prices went down for a while, due to improved, cheaper technology, but then they went up at an alarming rate, because unlike state-run businesses with political accountability, private enterprise is all about the profit margins.
Don't mean to derail the thread. Ignore me.
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