The right-wing ideologues ... have been in the ascendant for 30 years. This has led to a constant pressure to sell off basic public infrastructure, assets and services. These had been created over a century of nation-building by earlier generations of politicians who regarded their obligations to the citizen as more important than commitment to the currently fashionable economic ideology.
Unlike new industries that involve a measure of risk-taking, these industries are mature, already well-run and very low risk because they involve necessities and are often monopolistic in character, and offer huge opportunities for exploitation.
The object now is for managerial capitalism to provide princely rewards to its participants for such services, while convincing the rest of society that these rewards are appropriate compensation for their fictitious risk-taking. This and subsequent generations will pay the price for this triumph of vacuous ideology over common sense.
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