In recent decades, governments on every continent have sold state-owned assets, such as airports, railroads, and energy utilities. The privatization revolution has overthrown the belief widely held in the 20th century that governments should own the most important industries in the economy. Privatization has generally led to reduced costs, higher-quality services, and increased innovation in formerly moribund government industries. In the privatization chapter of the Cato Handbook for Policymakers, Cato scholars explain why Congress should:
- End subsidies to passenger rail and privatize Amtrak;
- Privatize the U.S. Postal Service and repeal restrictions oncompetitive mail delivery;
- Privatize the air traffic control system;
- Help privatize the nation's airports;
- Help privatize the nation's seaports; and
- Sell excess federal assets, including buildings, land, and inventory.
The Legacy of the Petraeus Doctrine
Gen. David Petraeus, the former U.S. commander of NATO troops in Afghanistan, on Wednesday formally retired from the armed forces in preparation for taking over as the new director of the CIA. Cato scholar Christopher Preble reflects on his legacy: "Petraeus perfected the art of fighting unnecessary wars. ...I worry that our brave men and women in uniform, following the doctrine that Petraeus drafted and promulgated, will fight more wars, in more places, but with precious little to show for it."
- The Impact of Gen. David Petraeus, by Christopher Preble
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