The abiding myth of mainstream economics is that governments should minimize their role in the economy – or, put another way, get out of the way of the accumulative drive of the rich. It’s an ideological position that suits governing elites and has led, among other things, to a fire sale of public assets and the increasing privatization of what were once public goods and services. The magic of the market and the vigour of private enterprise will make the cream of cost-effectiveness and efficiency rise to the top. At least, that’s how it’s spun.
23.1% higher prices, on average, charged by private electricity companies compared with public ones in the 34 wealthy OECD countries, 2010.
