Privatisation versus Nationalisation

Here is a timely and excellent Tim Harford piece on the debate on, and vacillations between, nationalisation and privatisation. Great especially for the EdExcel economics specification.

Tim Harford's evaluation of some of the arguments surrounding the debate between private versus the state in key industries is well worth a read for students wanting some arguments to add to their notes.

Here is a key quote:

"The broad lesson of the great privatisation experiment is that it has worked well when competition has been unleashed, but less well when a government-run business has been replaced by a government-regulated monopoly."

Read more here - The pendulum switches away from privatisation