“Privatization: Disposing of public sector assets at low prices and high sales commissions to powerful groups and individuals who generously supported the ruling party’s last election campaign. It provides short-run cash windfalls to the government, while weakening its power and its cash flows in the years to come. In the Third World, a means of making valuable assets available to First World creditors and investors at fire sale prices in a situation of virtual state bankruptcy.”

— Edward S. Herman

Source: Beyond Hypocrisy, 1992, Doublespeak Dictionary (within Beyond Hypocrisy), p. 166.

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Edward S. Herman55

American journalist 1925–2017

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