Surprises In A World According To Adam Smith

The privatization revolution sweeping the world surely ranks among the remarkable economic developments of the past few decades. What started in the 1970s and early 1980s as right-wing Thatcher and "Chicago boys" policies in Britain and Chile has spread to most countries, and it has caught on no matter what the economic views of the parties in power. The motivation is similar everywhere: the large deficits and inefficient employment and investment practices of state-run enterprises.

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