Most European governments have botched their privatization programmes by being too greedy and wanting to raise cash quickly. The British have run out of things to sell. In many developing countries, privatization is tainted with corruption.
The received wisdom of the moment is that privatization worldwide has reached the end of the line. But received wisdom is wrong. The wave of privatization, which started in 1984 with the sale of British Telecom, has only just begun.
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