A return to govt service
The privatisation of hospitals, public transportation and housing is starting to show how serious this mistake is. Essential services cannot be left to the free market to determine how much the consumers should pay. The market forces, if only it is real, is only concerned with profits, and profits and nothing else. The only principle that governs private business is how much the consumer is willing to pay or how much the seller of services and products can squeeze out from the consumers. As long as there are consumers able to pay, it is affordable, at least to those who can afford to pay. A $100k COE is affordable to the one who can afford it. A $1m 3 rm flat is affordable if there are people who are willing to pay for it. Resources, limited resources, are allocated according to what the market dictates, as being the most efficient and effective. Really? However, for sure, resources will not be allocated to those who need it most if they cannot afford to pay. And the haughty and cocky explanation is that one has to pay for it at market determined price.. If one cannot afford it, go for substitutions, downgrade, or tighten the belt. At the bottom of it all, if one cannot afford to pay, one does not deserve anything, even goods at inflated prices.. To overcome such inequalities, to the rich and powerful these are not inequalities, there are govts, not necessarily socialists, who would want to intervene to better allocate the resources to the needy. I would like to make a call for essential services to be returned to the govt, place under the charge of the public sector. My reservation is that govt services are run by incompetents and any services they provide will be inefficient and ineffective. If this assumption that public servants are all incompetents and useless, which was the justification for privatisation, then it is like the frying pan and the deep blue sea. This is a strange phenomenon as our govt services are staffed by the best talents in the island. As economic system approaches the end of the capitalist road, the communists will say, I told you so. The capitalist road will lead to its own destruction and a revolution of the under class is the natural anti thesis.