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A comment on Chicago sold rights to 36k parking meters for $1.2B that generate $200M per year. Parent comment

Re:Chicago sold rights to 36k parking meters for $1.2B that ... by missedthecue on Wednesday March 01, 2023 @06:58PM (#34990106)
The opportunity for corruption in the sale of state assets is always there. You are right.

But it's also an ever constant presence when the assets are state run. In my (LatAm) country, privatization has generally been a great success where it's happened because when the companies are run by the government, there's constant grift going on. The privatization of the mines in particular was wildly successful. Production went up, costs went down, and the state still collects profits in the form of mineral taxes. The mines were a black hole of public money when the government was in charge of them.

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Re:Chicago sold rights to 36k parking meters for $1.2B that ... by markdown on Wednesday March 01, 2023 @07:20PM (#34990293)
> The privatization of the mines in particular was wildly successful.

We're talking about government services here. Of course a mine will be more profitable in private hands.

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Re:Chicago sold rights to 36k parking meters for $1.2B that ... by missedthecue on Wednesday March 01, 2023 @07:25PM (#34990337)
my point is about corruption, not the mine. Keeping things in the governments control doesn't stop or prevent corruption from occurring, so it's odd to me that a criticism of privatization is the chance for corruption to take place.
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