1:00:02
well you know why dont we
put that back in the market
1:00:04
and see what that does?
1:00:05
Maybe it will make
it more efficient
1:00:16
Privatization does not mean
you take a public institution
1:00:20
and give it
to some nice person.
1:00:24
It means you take a public
institution and give it
1:00:27
to an unaccountable tyranny.
1:00:34
Public institutions
have many side benefits
1:00:37
For one thing they may
purposely run at a loss.
1:00:40
They're not
out for profit.
1:00:42
They may purposely
run at a loss
1:00:44
because of the
side benefits.
1:00:46
So for example if a public
steel industry runs at a loss
1:00:50
it's providing cheap
steel to other industries
1:00:53
maybe thats a good thing.
1:00:57
Public institutions can have
a counter cyclic property
1:01:00
So that means that they can
maintain employment
1:01:03
in periods of recession
1:01:05
which increases demand
1:01:06
which helps you
get out of recession.
1:01:09
Private companies cant
do that in a recession
1:01:12
throw out the work force cause
thats the way you make money.
1:01:15
There are those who intend
that one day everything
1:01:17
will be owned by somebody
1:01:20
and we're not just
talking goods here.
1:01:22
We're talking human
rights human services
1:01:25
essential services for life.
1:01:27
Education public health
social assistance
1:01:30
pensions housing.
1:01:34
We're also talking about
the survival of the planet.
1:01:40
The areas that we believe
must be maintained
1:01:44
in the commons
1:01:45
or under common control
or we will collectively die
1:01:48
Water and air.
1:01:51
Even in the case of air
theres been some progress
1:01:54
and that is the trading
of pollution permits.
1:01:58
And here the idea
is to say
1:01:59
look we cant avoid
the dumping of carbon dioxide.