... industries, including their monopoly elements, resulted in the need for further policy innovations by the government. The economic theory of market failure suggests that a private monopoly will abuse their market power in order to achieve profits in excess of those which would be available in a competitive...

...Felix Pomeranz The current wave of privatization, abroad more aptly referred to as denationalization, has achieved decidedly mixed results. Performance shortfalls have been fostered by operational weaknesses in the nature of the denationalization process, and by structural deficiencies which impede...