One of the faults of neoliberalism is the idea that if the private sector can do something cheaper than the public, then the public doesn't need to exist.

[rantingcanuck@mstdn.ca]

One of the faults of neoliberalism is the idea that if the private sector can do something cheaper than the public, then the public doesn't need to exist. This concept is flawed because the role of a publicly owned entity isn't just to do things cheaper it is also to:

1) Provide services across the nation, even when services in a location are not profitable

2) It acts as a price 'anchor'. If the private sector becomes a monopoly or oligopoly (as it tends to do) having a public entity offering stable pricing inhibits the private sector's ability to price gouge consumers since they can just turn back to the the public option.

#neoliberalism #oligarchy #PublicServices