Supratim has misquoted what me. I have said is that there is no evidence that privatization ensures better performance than other forms of organization. Against the overwhelming evidence I have given of the developments in the Industrial & Post Industrial Eras, the growth of super powers like U.S.S.R., U.S.A., Japan, Germany, China, which would not have been possible without massive state intervention, he has changed the idiom of discourse & now talks about PRIVATE CAPITAL V/s PUBLIC CAPITAL.
Capital is a dead commodity. It gains life through Management of this resource. Management is not an abstract subject; Ownership is. Theoretically, because I own some shares in Reliance, I am an owner of Reliance, but does it mean anything? Ownership is Notional, Management is REAL.
Management is a Technology & as I have said, Technology & Organization have been the drivers in the modern age. Management like engineering & medicine can be taught & learnt. That is why there are 900 or institutions in this country offering post graduate qualifications in management. It has a distinct vocabulary & body of knowledge. Like Electricity its results & outcome do not depend on who applies it provided she follows the rules of application correctly.
If public sector organizations are being sold to generate funds, that is one thing. If they are being hived off because some private individual can run them better, the assumption needs to be challenged.
If a company can become profitable merely by changing the form of capital employed, then just trade all public sector shares on the stock exchange & you get private capital injected into the organization. If private companies can make money by running airports why cannot the public sector?
The examples are given of U.S.S.R. Remember it achieved super power status in a remarkably short time. The fact that the Roman or the British Empires do not exist any more does not change the history that they were forces to reckon with in their time.
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