To hell with serving the public, privatize everything!

Britain’s life-saving coastal search and rescue helicopter services are being contracted out to a company based in Texas because the government do not want to buy 22 new helicopters. The British invented privatization, a boondoggle that has been copied all over the world. In the British context natural monopolies have been sold to foreign companies …

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An unhappy lesson for US academia

For decades American universities and colleges enjoyed a boom in demand that led them to believe that market forces didn’t apply to them. The government inflated the demand by handing out loans to any young person who wanted to attend, regardless of academic ability. Students avidly competed to get into elite colleges on the assumption …

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Better banking?

The Most Rev. Justin Welby, the new Archbishop of Canterbury, who sits on the parliamentary Banking Standards Commission in Parliament, has criticised “the culture of entitlement” among London bankers, calling for them to pass professional exams, and advocating the break-up of at least one state-backed institution into smaller regional banks. Naturally, the not disinterested financial …

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