BUSINESS BOOK

 PRIVATIZATION. PAGE 62.

1
Privatizing (it is the process of transferring ownership of a business from the public sector to the private
sector) roads and bridges.

Here are some advantages to private control of roads, utilities, lotteries, parking garages, water systems,
airports, and other properties.
To pay for the 2upkeep (the process of keeping something in good condition), private firms can raise
rates at the 3tollbooth (a small building where you pay a 4toll (a tax or fee paid for some liberty or privilege,
as of passing over a highway or bridge, to use a road or bridge) without fear of being penalized in the 5voting
booth (a small, enclosed area in which a person stands for privacy while casting a vote). Private sector
operators are also freer to experiment with ideas like 6peak pricing (the pointed top of a price), a 7market-
based approach (encouraging or leading to an economic system based on supply and demand) to relieving
8
traffic jams (a large number of vehicles close together and unable to move or moving very slowly). And
governments are making use of the cash they`re pulling in-balancing 9budgets (to plan how much money you
will spend), decreasing 10debts (an amount of money that you owe someone), investing in social programmes,
etc.
But are 11investors (someone who puts money into a bank, business, etc. in order to make a profit) getting an
even better 12deal (an arrangement or an agreement, for example in business or politics)? It’s a question with
major policy implications as government sell major public assets for years to come. Some public interest
groups complain that the revenue from the 20higher tolls (high taxes) with which all citizens have to pay will
benefit only a handful of private investors, not society in general.
The aggressive 13toll hikes (toll rises) embedded in deals all but guaranteed pain for 14lower-income (not
having or earning much money) citizens-and enormous 15profits (money that you get from selling something
for more than it cost you to buy or produce) for the buyers.
There`s also reason to worry about the quality of service on deals that can 16span (the period of time that
something exists or happens) 100 years.
The newly private 17toll roads (a road that you pay to use) are being managed well now, but owners could sell
them to other 18parties (an organization that has the same political beliefs and tries to win elections) that
might not operate them as capably in the future. Already, the experience outside of toll roads has been mixed.
The Atlanta city water system, for example, was so poorly managed by private owners that the government
had to take it back into public 19ownership (the right of owning something).
 The DICE THEORY. PAGE 64 AND 65.
GENERAL

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