The Urgency of Profitable Losses
In: Economic affairs: journal of the Institute of Economic Affairs, Band 7, Heft 3, S. 22-24
ISSN: 1468-0270
The central flaw in the policies both of privatising state‐owned assets and contracting out local authority services is that they protect existing producers. Sudha Shenoy, of the University of Newcastle, New South Wales, uses the 'Austrian' analysis of constant change in conditions of supply and demand to show why all producers must be exposed to the threat of loss from dissatisfied