Just saw some notes on a presentation Jim Chanos gave at an investment conference.
They reflect a thought I have had for sometime, but of course he puts it much more eloquently and identifies the underlying impetus for change.
I am referring to the idea that when an industry derives excess profits, this attracts the govt to increase its share of the take. Chanos puts his finger on the impetus for change coming from the cultural and political acceptance that health and education are rights and not privileges (and this changes how they should be viewed and treated by govt).
Chanos talks about a 30 year deregulatory boom in education, healthcare, defense, govt services, and finance. The govt has a stake in these sectors either directly or indirectly, whether because they are deriving outsized margins (against the public good) or the govt subsidizes them. Bottom-line: there is payback to be had. He is particularly focused on the potential for change in healthcare and education.
No comments:
Post a Comment