State owned assets -
including utilities and suppliers of public goods such as health and
education - were transferred wholesale to the hands of profit
maximizers. The implicit belief was that the price mechanism will
provide the missing planning and regulation. In other words, higher
prices were supposed to guarantee an uninterrupted service.
Predictably, failure ensued - from electricity utilities in California
to railway operators in Britain.
The simultaneous crumbling of these urban legends - the liberating
power of the Net, the self-regulating markets, the unbridled merits of
privatization - inevitably gave rise to a backlash.
The state has acquired monstrous proportions in the decades since the
Second world War. It is about to grow further and to digest the few
sectors hitherto left untouched. To say the least, these are not good
news. But we libertarians - proponents of both individual freedom and
individual responsibility - have brought it on ourselves by thwarting
the work of that invisible regulator - the market.
Narcissism in the Boardroom
By: Dr. Sam Vaknin
Also published by United Press International (UPI)
Part I
Part II
The perpetrators of the recent spate of financial frauds in the USA
acted with callous disregard for both their employees and shareholders
- not to mention other stakeholders.
Pages:
217
218
219
220
221
222
223
224
225
226
227
228
229
230
231
232
233
234
235
236
237
238
239
240
241