fatvegan

I've had a brilliant idea. All these poor countries have enormous loans to rich countries. And then the IMF is encouraging/forcing countries to sell off all the government businesses to improve their efficiency. You could easily argue that the most inefficent parts of government are the indebted public works sections. Governments have been paying huge amounts of interest on public works that never achieved the growth they were meant to. The solution to this wasteful inefficency is actually quite obvious. Sell off all the indebted sectors to private limited liability corporations. You'd eliminate public debt and private ownership would vastly improve efficiency. The blessed free market would have those companies out of debt and humming along in no time I reckon. When you think about it, it's really so simple.

If individual companies shouldn't be held accountable for the bad debts of other companies, then why should governments be held accountable for the bad debts of other governments? Unless of course there is some continuity of mandate, like democracy, which there clearly isn't in most indebted poor countries.