Debunking Economics - the podcast Privatising the planet
Nov 26, 2025
The discussion dives into the alarming trend of corporate influence over public utilities like water and healthcare in Britain. Profits soar while infrastructure crumbles under neglect. Freeports and corporate-run towns threaten local democracy, reducing citizens to contract signers. The podcast questions the role of AI in shaping opinions and highlights the push against public media. With rising rents and declining housing stock, listeners are prompted to consider the implications of privatization on essential services and the very fabric of society.
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Short-Term Profit Undermines Public Infrastructure
- Privatization often redirects cash flows into profits while neglecting long-term maintenance of public assets.
- Steve Keen says private owners skip maintenance if benefits fall beyond their short-term horizon, degrading infrastructure.
Local Services Lost To Global Platforms
- Phil Dobby recounts trying to find a local electrician and finding internationalized call centres instead.
- He uses this experience to illustrate how tech platforms have globalized local services and made local contact difficult.
Debt And Dividends Skew Maintenance Choices
- Private ownership adds debt servicing or dividend obligations that bias decisions toward short-term gains.
- Steve Keen explains these financing costs cause owners to prioritise payouts over long-term upkeep.
