“…these utilities are coveted by investors; that the regulatory environment makes them extraordinarily profitable; and that investors have very little interest in the quality or the long-term operational efficiency of the systems.”
There’s an often unexamined myth that private enterprise will always and inevitably do a better job than government. It isn’t true, and it especially isn’t true for infrastructure.
When I worked in the city, I used to park in a particular parking building which was owned by the council. They handed over management to a private firm. The charges went up with a big bump, and the standard of cleanliness of the facility dropped sharply.
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