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"If history could prove and teach us anything, it would be that private ownership of the means of production is a necessary requisite of civilization and economic well-being." (From Planned Chaos, a book by Ludwig Von Mises).
4 comments:
Sigh... kitambo... I think it was 1956 as EAP&LC
Thanks Coldtusker. KPLC shows how Kenya's privatization program stinks. A company privatized half a century ago is still asking for government help.
You are mistaken... KPLC is asking for help since the problems it is in are a result of government interference...
KPLC in spite of being privatised has been treated as a government department & run very poorly.
KPLC was not allowed to charge market rates for political expediency. Furthermore, there was gichuru who used KPLC's "power" & funds to enrich himself & other government cronies.
Unlike Barclays, KCB was a flop (until recently)... why?
Even after being listed, KCB was controlled by the government & its idiots. The idiot#1 was kaminchia followed by #2 bii...
It was only after Gareth George (fired for pushing bad debt recovery from moi's henchmen) & then Terry Davidson that some semblance of profits came in!
Coldtsuker--KPLC privatization never succeeded because the state protected it from competition. The essence of privatization is to let market forces take root in the said industry. Failure to do so is tantamount to replacing a public monopoly with a private one, which does not bring forth the intended efficiency. And that's the drawback of our privatisation program.
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