To you two, I agree there are no right or wrong or best model. I
do not disagree that non-profit orgs do work but just let me have
the right to think that as far as transportation is concerned,
private works better. Yes maybe someday the government will scrape
the current system and adopt yours and maybe by then we can make
better comparisons. However for now given the status quo, we can
only discuss possibilities.
To me the problem about collusion between SMRT and SBS is a
problem about market failure due to monopoly and not due to
privatisation per se, but i dont wanna delve into that cause I
really had enough of quoting and stating theories. I recognize that
you have a right to believe that non-profit orgs do work and I do
agree that in the right hands such a method may flourish and far
exceed the current standard of provision for the public.
Nonetheless as you all have brought up examples, Man is often
greedy by nature. Even with auditing you all have conceded that
such things may be insufficient. I believe in the need for
institutions to keep things in check, but I believe they should act
as markers and signals for corporations to act in the right manner
and not act in an intrusive way (close monitoring, going through
books etc).
And yes soul_rage I agree that amidst the current financial
crisis we do see the US government extending helping hands to their
auto-makers and large financial institutions and hence you conclude
that there is no true free market, which I agree to a certain
degree. All I can say is that the market is like a kite. Leave it
to fly until it runs into trouble then bring it back. If you
restrict too much of its freedom, you cant see its beauty; on the
other hand give it too much slack and it runs amok. Bhagwati once
said that the 'invisible hand is flawed, but the visible hand is
frail.' I agree with this thats why I suscribe to capitalists and
meritocratic ideals. Nonetheless when really confronted with a
crisis as large as this, the 'visible hand' may intervene on
grounds that there is a larger picture to care about. It is
debatable whether such mega-corporations should have been allowed
to have such large socio-economic influence to begin with, but i
believe the US govt is doing the right thing to give suitable
rescue in light of a greater purpose to revive the economy.
Either way, speakup, we won't agree on the grounds of whether
the current transport model is good or not. To me, I personally
feel that the current model is wasting money excessively on frills,
when public transporation is all about minimal frills and focused
affordability. Anyway, I just wanted your acknowledgement that
there MAY be better ways to run our transportation network, and I
have gotten it, so no complaints from me there.
Coming back to your belief on saving the economy by govts, only
time will tell if they are right. I have looked into the history
books and never have I seen such drastic intervention as this
round. Therefore, it means that we DO NOT have any means to
understand the possible consequences, since it has never happened
before. I only hope that you are right, because I don't dare to
think about the consequences if it was otherwise.
Some possible consequences are increased inflation, or a full
true collapse of the system after only a few years, shortening the
economic cycle of ups and downs.
