Saturday, January 28, 2012

Private Versus Public?

As Ronald Reagan famously exemplified in his January 1981 inaugural speech, "In this present crisis, government is not the solution to our problems; government is the problem." the private/public debate has raged unabated.

For those in the States, the notion that private companies are by definition more efficient than their public counterparts almost goes without saying and as a result the overriding trend over the last thirty-plus years has been the inexorable shift toward the private end of the spectrum.

Regardless of how one might personally feel about the merits or demerits of either path (there is no shortage of evidence to sling depending on one's persuasion) are we actually doing each other a disservice by boiling such a complex topic – as how to most efficiently & fairly manage our societies' resources – into such a simplistic duality? By doing so are we without even knowing it putting on subconscious blinders that prevent us from seeing deeper relationships and alternate frameworks that might otherwise allow us to zero in and solve the myriad of societal ills that plague us today?

With those questions in mind, Economic Professor Emeritus Richard Wolff on his January 14th weekly radio program on WBAI New York, offers up a host of fresh perspectives and food for thought on the private/public discussion we've been having all these years and of greater import brings to the fray valuable tools to add to our "make-the-world-a-better-place utility belts."™

Richard Wolff – Economic Update – WBAI – January 14th, 2012

NOTE: If your browser is not picking up the audio player above here is the mp3.

P.S. If you haven't yet seen Wolff's presentation, "Capitalism Hits the Fan" definitely do so when you can carve away an hour or two. His summation of how we arrived at our current economic predicament is the most revealing and comprehensible I have come across.

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