There are 70,000 bridges in the USA. One bridge in Minneapolis collapsed last week, killing a few people. Some are still missing.
Is this an isolated incident? A bad accident?
Apparently, it seems that the condition of many of the bridges are unsatisfactory. There is a wider problem.
Many years ago, it was considered to be the duty of the government to provide the public works and utilities. There was no issue about the costs (although the government do manage them quite prudently). These public expenditure were considered to be necessary and beneficial.
The priority changed during the past 20 years. The governments tried to adopt business principles, using cost-benefit analysis. Some of the expenditures were reduced, as they were felt to be unnecessary. Some activities, e.g public transport and hospitals, were privatised to be runned by profit-driven entrerprises.
The outcome was a deterioration in the quality of the infrastructure and public services in many countries. There was a focus on cutting costs and increasing profits, instead of the public interest.
I hope that there will be a change in thinking, and that governments will move away from the concept of adopting business principles for public service.
- ► 2019 (1280)
- ► 2018 (1406)
- ► 2017 (1258)
- ► 2016 (828)
- ► 2015 (691)
- ► 2014 (144)
- ► 2013 (501)
- ► 2012 (1269)
- ► 2011 (1873)
- ► 2010 (2369)
- ► 2009 (1654)
- ► 2008 (2104)
08/05 - 08/12
- Invest my retirement savings
- Buy a modest amount of critical illness cover
- Subprime mortgages cause global stockmarkets to fa...
- Regular premium unit trust
- Pooling of Risk under a Life Annuity
- Buy a life annuity earlier
- SMS Marketing
- Customer friendly Call Center
- Online purchase of insurance in USA
- Withdraw from Combined Fund
- Earn 4% on your CPF retirement account
- How to get a higher return
- Notify consumer about the high charges
- Buy a fixed term annuity
- Financial Planning Tips
- Financial Planning for Seniors (revised FAQ)
- Working closer to home
- Collapse of bridge in Minneapolis, USA
- Waiting time for public buses
- ▼ 08/05 - 08/12 (19)
- ► 2006 (696)
- ► 2005 (159)