Why Privatisation Fails | Richard Denniss Explains

Privatisation has clearly failed.

The Victorian government reviving the State Electricity Commission is a clear example of sensible direct government investment in services the community needs.

Executive Director Richard Denniss explains.

[ayfj]

Labour flogging off the Commonwealth bank was the crime of the century. That one decision has done so much damage. We need to reintroduce a public bank ASAP.

[PaulWayper]

The other main benefit of government-controlled entities is that we all get a say (by voting) in how they work. Sweden has the 'Systembolaget', where the state runs sale of alcohol (an artifact of some very heavy drinking miners), and it means that how alcohol is advertised and sold is a public health issue, whereas companies selling alcohol (e.g. here in Australia) pretend it has nothing to do with public health.

[beesplaining]

This is great to see at long last. Governments need to do genuine public housing now. There seems to be much pressure for them not to.

[Aussie_Leftist]

Love the short videos. You manage to pack in a whole lot in a few minutes.

[keithhowarth]

Exactly, I've been arguing this case for years. Using Nordic countries as an example. Thanks Richard

[wasdwasdwwasd]

How fitting was it that I got a Michael O’Brien ad before this

[maxsweetman]

Australia is turning into a finance economy
Big money is hell bent on privatisation
If our politicians are too weak to prevent this our wealth will flow from the many to the few and most of us will suffer from this

[everydaytwiceonsundays]

Glad to see people realizing the obvious. Companies that run according to the profit motive are good at making profits and bad at everything else, including production.

[PaulWayper]

I'd heard that the Inland Rail project was basically a sop to the coal industry, as it got mates rates on the line. Is that true?

[bofty]

Another fail by conservatives, good to see Victoria bringing back what’s needed and going renewable

[davidwilkie]

So what was it that upset French people enough to make adjustments to the thought processes of governance in France, that resulted in resetting Standards.

[madonnawaugh]

But Richard, private age pension, profit gouging super funds will own 49% of the sec

[danialmurdoch]

Beautiful. Hopefully our elected members can tale something away from your informative vids

[clarencevogel]

You did not explain WHY they fail, you only stated that they had failed. So i guess we could say that you FAILED!

[madonnawaugh]

Super funds have loved all the privatisation gig. THe super lobby industry will not give up profit gouging off us very easily

[MikeStock]

Their motive is profit, where as all we the public care about is the service

Essential services should never be run for profit

[fernandolongo]

Governments getting involved in something doesn't make that 'thing' good - we need proper analysis of the benefits, costs, etc

[brettgoyne]

Richard, good video. Direct investment and government ownership importantly means direct control and responsiveness. You mention the Gender Pay Gap. It is not 14.1 % as claimed. It is a deliberately inflated claim. The GPG compares male and female fulltime average wages. It does not adjust for male full time hours being at least 10% greater than female full time hours (ABS). The true GPG is probably 4 - 6% and has other influences. Even you guys don't get honest about it. Why is that?

[jinnantonix]

Privatisation is not failing, government free market policy is failing e.g. state based energy infrastructure policy . The reason for privatisation is that the systems run more efficiently and offers consumers better value when competition is involved. Government funded monopolies have often been a disaster in the past, which is why most Western countries have most of their services privatised. Australia bucks this global trend, with many services still run by government, particularly where government policies have failed. (eg Snowy Hydro, NBN, etc).

[Mercury-Wells]

You could possibly do with some vocal coaching - people prefer deeper tones, that's why news readers all speak in an unnaturally low register.
Good info though! 👍