Earlier quoted context omitted.
Another example of privatization of profits and socializing losses. I live on Long Island (New York) and we have water problems from old factories that polluted the ground water. My water bill will now include $80/year charge for new filtering plants that are supposed to clean up the contaminated water. At best, the companies should’ve never been allowed to pollute the water. At worst, the cleanup cost should’ve been…
"privatization of profits and socializing losses." This is ideologically biased. You mean "externalize RISK", which governments and NGOs do all the time too.
My comment isn’t addressing an economics class, it’s addressing an electorate.