The privatization of resources leads to inequality and environmental degradation from "summary" of Profit Over People by Noam Chomsky
The process of privatization, the handing over of publicly owned resources to private hands, has been a defining feature of the neoliberal era. This trend towards privatization has had far-reaching consequences, particularly in terms of exacerbating inequality and environmental degradation. When resources are privatized, they become subject to the profit motive, driving companies to exploit them for maximum financial gain without regard for the broader social or environmental consequences. In the pursuit of profit, private companies often prioritize short-term financial gains over the long-term sustainability of resources. This can lead to overexploitation and degradation of natural resources, as companies seek to extract as much value as possible in the shortest amount of time. In doing so, they disregard the needs of future generations and contribute to the depletion of essential resources that are vital for the well-being of society as a whole. Furthermore, the privatization of resources tends to concentrate wealth and power in the hands of a few, exacerbating existing inequalities within society. Those who can afford to access and exploit privatized resources stand to benefit the most, whi...
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