The Sacramento Bee reports the giant California Public Employees' Retirement System is planning to use some of its money to invest in infrastructure, which is, of course, privatized infrastructure.
i guess i fail to see the irony. what should they be investing in: homeless shelters? a people's army?
is there something fundamentally wrong with the idea that the private sector does some things best, and the public sector does other things best, including oversight of the private sector?
is there some moral reason why people who happen to take jobs in the public sector should be above investing their retirement savings in private projects?
The evidence that the private sector is appropriate for infrastructure is not strong. Even Business Week had a recent cover story questioning privatization of infrastructure.
i guess i fail to see the irony. what should they be investing in: homeless shelters? a people's army?
ReplyDeleteis there something fundamentally wrong with the idea that the private sector does some things best, and the public sector does other things best, including oversight of the private sector?
is there some moral reason why people who happen to take jobs in the public sector should be above investing their retirement savings in private projects?
The evidence that the private sector is appropriate for infrastructure is not strong. Even Business Week had a recent cover story questioning privatization of infrastructure.
ReplyDeleteperelman
ReplyDeletehaving thought it over, i think you may be right.
i did not read the Bee article with enough attention, or suspicion, to see what they are up to.
The last line of the Bee article makes it pretty clear they are talking municipal bonds and so not 'privatization' at all.
ReplyDeleteLittle to no new infrastructure projects or major repairs would be done in house by public employees. I fail tonsee the irony here.