An analysis of the claim that private-public partnerships (called PPPs or P3s) reduce the building and operating costs of public projects and services, this study examines a large number of P3 case studies--from schools, bridges, and water treatment plants to social services and hospital food services--and concludes the opposite: most P3s are more costly to build and finance, provide poorer services, and are less accessible than if they had been built and operated by public servants. The book provides a clear explanation of what P3s are, the misleading accounting procedures used by governments to make them appear more palatable, and how many essential services are less accountable to citizens when private corporations become involved.
John Loxley is a professor of economics at the University of Manitoba. He is the author of "Alternative Budgets," "Doing Community Economic Development," and "Transforming or Reforming Capitalism." He lives in Winnipeg, Manitoba. Salim Loxley is a consultant who studied at the University of London and the London School of Economics.
One frightening consequence of the global financial crisis of 2008-09 is the renewed effort by private investors to force the privatization of public assets. And their tool of choice has become the public-private partnership. In this devastating and incredibly timely critique, John Loxley exposes P3s for what they are: a phony fiscal shell game that enriches investors at our expense. This book is an essential tool in the ongoing struggle to preserve the public good. --Jim Stanford, Economist, Canadian Auto Workers"
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