Marla_Singer
United in diversity
Downtown, as well as the NY Times article, indeed clarifies the economical aspect of it, but not the political one.Downtown pretty much nailed it in post #2. The extremists on this forum just get tiring after a while.
I think this topic deserves to be dug a bit further. The difference between a public or a private city isn't about management, it's only about ownership. Suggesting private cities is just extending a bit further the free market conception that already guides most activities worldwide.
I've seen a pretty well-made documentary about the evolution of the financial markets from 2000 to nowadays. The documentary stated that the 2008 crisis which has followen Lehman Brothers collapse didn't lead to a better public monitoring of financial markets. Exactly at the opposite, the chosen solution initiated by Paulson actually lead to even more powerful financial markets. More specifically, even more power in the hands of the largest banks.
And indeed, when we read all the events which have followen the crisis both in the US and in Western Europe, we can conclude that governments don't assume the leadership on economical matters anymore, they only follow what large banks asked them to do through the pressure of financial markets. Thus making the check and balance system (on which our societies have been established) rather irrelevant.
I should probably make a thread about that.