Privatized roads are like casinos because we know that the owners will take their cut, meaning that it is not an even deal.
I learn from an article in the March 17, Wall Street Journal "Letting the Market Drive Transportation, Bush Officials Criticized for Privatization" that:
"the Government Accountability Office warned that tolls on privatized roads are typically higher than if the roads remain under public control, because of the need to generate steady profits for private investors. The report said the federal government needs to better protect the public interest."
Exactly. Read the GAO report that came out in January (which I couldn't find in my internet search) or my earlier scintillating blog on this topic.
Sunday, March 23, 2008
Privatized roads are like casinos
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Report GAO-08-44 "Highway Public-Private Partnerships" is dated February 2008, and is available here:
http://www.gao.gov/new.items/d0844.pdf
Also, for a shorter layman's briefing, see US PIRG's report "Road Privatization" here:
http://www.uspirg.org/uploads/CK/Qk/CKQkZq9XOp57ybWVF4zr3w/Road-Privatization.pdf
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