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526. Was Adam Smith Really a Right-Winger?

Freakonomics Radio

Is That the Darkest Day Ever When Privatization Begun?

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When Thatcher took office, a third of the housing stock was owned by local governments. She allowed tenants to buy their own properties for a large discount. People did that because they knew that they'd be getting an asset relatively cheaply. So it was a great exercise in promoting a capital owning democracy. But generally speaking, we haven't reversed any of those privatizations. Parking is still private and telephones are still private and steel is still private.

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