Name: Myth About Privatisation: Debunking Robert Reich on the Truth About Privatization
Uploaded: 2021-09-18T14:34:40+00:00
Duration: 14 min 9 s
Description: The myth about privatisation today is very common, sadly it is not only common among Marxists, but also many who support the mixed economy and it is a pervasive myth that many people buy into. In this

4 years ago

The myth about privatisation today is very common, sadly it is not only common among Marxists, but also many who support the mixed economy and it is a pervasive myth that many people buy into. In this video, debunking Robert Reich on the truth about privatization, I cover briefly why it is an erroneous argument, and his argument pretty much illustrates my point.

The argument about the public railways, bridges, canals, roads proved to be a disastrous failure under the internal improvements because of government, as I have pointed out on the turnpike industry, the free market gave government a showing up in the absence of the corporate subsidies, etc.

As I argue, however, the type of privatisation you are seeing today is nothing at all what describes true private ownership, instead, it's a private sector strongly being controlled by government. As I've already illustrated, there is a colossal difference between true private ownership where private business is left be to compete rigorously in the absence of the government subsidies and government regulation. You can check out my argument on why the subsidisation is damaging to the economy.

Why Subsidies Don't Work:
• https://www.youtube.com/watch?v=koDKM9mYlic

Robert Reich illustrates the point about the subsidisation carried out under Trump, however, this is not an argument against privatisation as he thinks it is, instead, it's a problem involving the government subsidies to blame in the first place. Failure of private business is supposed to occur under capitalism to allow newer more efficient industry to come through, this is something socialists fail to comprehend. Capitalism, therefore, is not about guaranteeing 100% of all businesses success.

He also makes a concession not to privatise industry where costs will soar in the absence of competition, but fails to acknowledge the fact that government regulation is the cause of this, therefore, nationalisation is not the solution, the solution is to remove government from the market and open up the free market to allow competition to step in via strong deregulation of the market.

As I've pointed out numerous times before, the main American healthcare market is NOT capitalist and the fault of the costs soaring out of control in the main American healthcare market is to blame on all the government intervention. You can watch both my videos covering the healthcare.

Why American Healthcare Costs So Much:
• https://www.youtube.com/watch?v=SHR7FlRrhAU

Direct Primary Care: Free Market Solution to Healthcare:
• https://www.youtube.com/watch?v=V-c2uPAoh4Q

USPS Privatisation:
• https://fee.org/articles/its-time-to-privatize-the-united-states-postal-service/
• https://fee.org/articles/the-postal-service-is-the-problem-not-amazon/
• https://mises.org/library/usps-cursed-carriers

• Introduction: (0:00)
• Turnpikes: Private vs Public: (1:04)
• Public Education is Indoctrination: (4:08)
• What Type of Privatisation: (4:43)
• Subsidies ARE the Problem: (5:17)
• Investment and Profits: (6:19)
• Unity and the USPS: (7:51)
• For Profits and Health Insurance Costs: (9:02)
• Prisons and Human Rights: (11:29)
• Education Choice Removed: (12:16)
• Deregulation is the Solution NOT Nationalisation: (13:02)