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Negative Effects of Privatization You are here: Negative Effects of… The basis of economics is not entirely on the study of economic trends, or on the efficient use of scarce resources to satisfy unlimited wants, it is also based on using this information to best meet the needs of society.
If indeed this is true, the prospect of the privatization of our most important industries is counter-productive to the needs of society. It is like giving our most important social services and programs to the hands the private sector, which cares more about profits and shareholders who provide their investment capital than they do about the people.
There are several instances both in Canada and around in the world when privatization of essential industries has been attempted, and has failed miserably to deliver the same productivity, reliability or high standards that the government usually provided.
With the rising prices also come higher costs to businesses as well as inferior services for workers, all signs leading to a struggling economy in the future. In private hospitals in the States and here in Canada, the level of service has decreased drastically despite all the extra costs consumers are forced to pay.
Where does all that money go? In a two-tier health system, the public funded hospitals experience even more drastic shortages, not being able to service the needs of the population.
In addition to providing poorer health care with additional costs, the private hospitals are often prone to fraud as companies scam money out of the system. These crimes only serve to drive costs up even higher. That means an unhealthy labour force and less productivity on the job due to inferior health.
Companies suffer as a result of less supply, less investment and less profits. The economy of Canada is also affected, as foreign investors will be discouraged to move to Canada when health care is no longer publicly provided.
Less foreign investment means less economic growth. While private health care systems are often the most expensive, they are also the most inefficient and unpopular.
Before the Conservatives opened the market to private competition, electricity costs 4. The average since May has been at 5. With the rise in prices, the service has not improved. In fact, electricity is even scarcer in the private sector due to a record low rainfall, needed for hydroelectric energy.
The negative implications in the economy are seen as businesses, the largest market users of electricity are also being forced to pay more for their energy.
That means more production costs for businesses and less output. With less supply, the price of consumer goods would skyrocket.The negative effects of privatization on labor have created some challenging problems for the countries that are in the process of privatization.
This paper is about the impact of privatization on dismissed workers in Turkey. In fact, private prisons have more of a negative effect on the surrounding community. In an effort to save money, private prison corporations reduce cost by paying lower salaries, hiring Bailey 4 less educated staff, and cutting staff training (Bruno ).
Negative Effects of Privatization Essay by ozgurmadran, University, Bachelor's, A, March download word file, 5 pages download word file, 5 pages 0 votes. Free words essay on positive and negative effects of privatization for school and college students.
Privatization is the process of transferring the managerial control of an enterprise or organization from a Government sector to a. Long Essay on Positive and Negative Effects of Privatization – Essay 4 ( words) Introduction Privatization is the process of shifting the control of certain industries from public sector to private sector completely or partly.
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