Authors:

  • Andrei Shleifer

Excerpt

Government Ownership and Privatization. Andrei Shleifer, March 13, 2013, Opinion. "Fifty years ago, economists, politicians, and the public believed that important industries should be owned by the government. Reasons included concern with monopoly power and a lack of regard for social objectives. In many developing but also developed countries (not to mention communist states), “key sectors” such as banking, energy, transportation, steel became government owned. By 1980s, it became widely recognized that government ownership is extremely inefficient..." Link Verified October 19, 2014