The Unspoken Truth About Privatization

The Unspoken Truth about Privatization covers the length and breadth of this interesting topic in nine short essays. The author defines privatization as "the policy or process of converting, wholly or partially, public enterprises to private enterprises" The main characteristics of the public sector and of the private sector are then discussed in turn, as a prelude to an examination of the rationale behind privatization. Once the case for privatization is established, the author proceeds methodically to study the process itself, and concludes that a decision to privatize should be based not on political ideology alone, but on a sober empirical analysis of its expected costs and benefits. One of the book's highlights is the emphasis placed on the importance of the "indirect" costs of privatization, particularly those associated with the use of foreign resources. The presence of foreigners holding key positions in a newly independent state is often resented by the nationals, and may even lead to political instability. Another highlight is a myth exploded: the author denies any automatic link between privatization and democratization. He deplores donors who insist on progress in privatization as a condition for disbursing aid, based on their false belief that more privatization means better democracy.

Globalization is a subject we have heard and read so much about. Here is the first of a series of monographs designed to unmask the truth behind globalization. Eventually, The UNSPOKEN TRUTH series of booklets will cover a wide array of topics which, like globalization, have far-reaching policy implications. You will find within these pages solid information and stimulating ideas on the whole subject of globalization. Starting with a meaningful normative idea of "globalizing development", the author shows the close interrelationship between globalization and liberalization, how the law of "intellectual property" is inimical to "good" globalization, and how globalization, left unchecked, can undermine the sovereignty of national governments. The book challenges the multilateral organizations such as the World Bank, the International Monetary Fund, and the World Trade Organization to stop advocating globalization policies that benefit the developed countries at the expense of the developing countries. In particular, it calls on the United States as the monolithic superpower that is uniquely placed to assume world leadership, to rise above selfish national interests, and confront the challenge of spearheading global equity. The book suggests, however, that the United Nations, for all its shortcomings, is still the body best placed to engineer balanced globalization on a world scale, provided it is reformed in a way that enhances significantly both its power and its international prestige.

With public colleges and universities facing substantial budget cuts and increased calls for accountability, more institutions now rely on private revenue streams for support. As market-driven policies and behaviors become more commonplace, some cautious critics sound the alarm, while others watching the bottom line cheer. But which perspective gets it right? Does the privatization of public higher education threaten its very mission or support it? In this collection of essays, economists, policy makers, political scientists, sociologists, and organizational researchers discuss the impact of privatization from their respective disciplinary perspectives and assess its implications for the future of higher education. Privatization may bring additional funds and services that are free from government regulations and oversight, but does it also allow private interests to have undue influence over public higher education? Should public universities have to compete in the economic marketplace as vigorously as they do in the marketplace of ideas? What are the implications when institutions of higher learning function like businesses? With privatization now a reality for most public colleges and universities, an objective examination of the issue from these diverse academic perspectives will be welcomed by those struggling with its challenges.

This book addresses the politics of global health and social justice issues around birth, focusing on dynamic communities that have chosen to speak truth to power by reforming dysfunctional health care systems or creating new ones outside the box. The chapters present models of childbirth at extreme ends of a spectrum—from the conflict zones and disaster areas of Afghanistan, Israel, Palestine, and Indonesia, to high-risk tertiary care settings in China, Canada, Australia, and Turkey. Debunking notions about best care, the volume illustrates how human rights in health care are on a collision course with global capitalism and offers a number of specific solutions to this ever-increasing problem. This volume will be a valuable resource for scholars and students in anthropology, sociology, health, and midwifery, as well as for practitioners, policy makers, and organizations focused on birth or on social activism in any arena.

Stabilization and Privatization: An Economic Evaluation of the Shock Therapy Program is the first comprehensive account of Poland's economic transition since mid-1989. Monetary stabilization, trade liberalization (including convertibility) and privatization of state capital assets are discussed. Sources of economic recession which have accompanied the post-1989 transition are analyzed. The role of demand-side factors (i.e. monetary contraction) is weighed against that of supply-side factors (i.e. credit availability). The prevailing view is that the recession has been supply-type rather than demand-type. Economic performance has been impacted by the lack of a proper institutional framework (e.g. a segmented banking sector, diluted property rights). Arguments in favor of evolutionary reforms and market enhancing measures are presented. Stabilization and Privatization examines the main components of Poland's shock therapy program implemented in 1990. Post-shock recession, lasting at least through 1992, is examined to establish whether a sharp decline in output was caused by excessive demand contraction or lack of accommodating credit policies. The merits of an evolutionary approach and a more proactive state are debated.

May 1998 The most likely outcome of the strategy of voucher privatization with investment funds may be a two-sided grab fest by fund managers and enterprise managers-along with drift, stagnation, and decapitalization of the privatized industrial sector. Common wisdom among post-socialist reformers has been to use voucher investment funds to provide the corporate governance needed to restructure newly privatized enterprises after mass privatization efforts. The idea has been that mass privatization would spread the ownership too wide and make corporate governance difficult. Ellerman examines the likely institutional behavior of voucher funds and the possible effects of their development on a transition economy. Since most policy advice has been in favor of voucher privatization with investment finds, Ellerman can be seen as playing the devil's advocate, but his argument is institutional, not statistical. Policymaking requires insight and foresight into how institutions will tend to function. He concludes that voucher funds will introduce a bias in the economy away from the real industrial sector toward an ersatz financial sector that will have little if any positive financial role but will be well-protected by friendly regulators. One long-term consequence of voucher privatization with investment funds, according to this view, is a de facto industrial policy of real sector decapitalization in favor of short-term rent-seeking by fund managers through board sinecures and lucrative side deals with portfolio companies and through financial market manipulation and paper entrepreneurship in the financial sector. Without strong corporate governance from the funds and without stable ownership of their own, many enterprise managers will exploit the post-socialist version of the separation of ownership and control to grab what they can in the form of salaries, bonuses, perquisites, and side deals. The most likely results of the strategy of voucher privatization with investment funds may be a two-sided grab fest by fund managers and enterprise managers-together with the accompanying drift, stagnation, and decapitalization of the privatized industrial sector. This paper-a product of the Office of the Senior Vice President, Development Economics-is part of a larger effort in the Bank to define policymaking using institutional analysis. The author may be contacted at dellerman@worldbank.org.

In 2003, the National Commission on the Public Service, chaired by Paul Volcker, issued a report detailing problems within the federal government today and recommending changes in its organization, leadership, and operations. This book suggests practical ways to implement the recommendations and defines a research agenda for the future. Thirteen essays address the primary problem areas identified by the Volcker Commission, and the commission report itself is included.

Cover -- Title -- Copyright -- CONTENTS -- 1 Introduction -- PART I Analyzing privatization -- 2 Three faces of privatization -- 3 Big government against social responsibility: A vulnerability critique of privatization's public priorities -- 4 Rethinking responsibility in private law -- 5 In the land of choice: Privatized reality and contractual vulnerability -- PART II Privatization and corporatization -- 6 Entrepreneurial subjectivity, the privatization of risk, and the ethics of vulnerability.