Sunday, April 07, 2013

I'm Not Actually Against It

When I was talking about the boondoggle of private investment in public infrastructure I wasn't really clear that I was particularly against the banks and these other stupid schemes to skim more government money off to a handful of well connected individuals and businesses.

Private enterprise does, often and without problem, invest in public goods, including infrastructure.  The mechanism for this has been and should be bonds.  Those bonds can be targeted to a specific thing, and some dedicated revenue stream (taxes, tolls, ...) can be set up to be used only for payment on those bonds, but that is how "investment in infrastructure" has and should work.

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