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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (50302)	7/4/2004 3:59:51 PM
From: TigerPaw	Read Replies (1) \| Respond to of 89467

There are signs that the Reagan-Thatcher era is ending and that the pendulum will swing the other way. Many recent problems have tended to come from the lack of sufficient state oversight, as with the Enron, WorldCom and other auditing scandals, or the privatisations of railways in Britain or electricity in California. The easy gains from privatisation and deregulation have long since been achieved. observer.guardian.co.uk It is perhaps in light of experiences like these that Milton Friedman, dean of free-market economists, said a couple of years ago that his advice to former socialist countries 10 years earlier had been to 'privatise, privatise, privatise.' 'But I was wrong,' he added. 'It turns out that the rule of law is probably more basic than privatisation.' The cost of learning this lesson was high.