Chris Edwards of the Cato Institute has released a new study spelling out the advantages of privatizing government services.
A privatization revolution has swept the world since the 1980s. Following the United Kingdom’s lead, governments in more than 100 countries have transferred thousands of state-owned businesses to the private sector. Railroads, airports, energy companies, postal services, and other businesses valued at more than $3 trillion have been privatized. Governments of both the political right and left have unloaded state-owned businesses.
Despite the global success of privatization, reform have largely bypassed our own federal government. Indeed, many activities that have been transferred to the private sector abroad remain in government hands in this country. That creates an opportunity for U.S. policymakers to learn from foreign privatization and enact proven reforms here. …
… Privatization would allow entrepreneurs to take on challenges at which federal bureaucracies are failing. The United States is a land of huge talent and diversity. But to take full advantage of those assets, we should divest the government of activities that individuals and businesses can perform better by themselves.
