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Essay / Research Paper Abstract
A 2.5 page paper that discusses the privatization of Canadian Crown corporations. The paper begins with the number of companies in this corporation and the amount of public assets involved. The paper discusses the challenge for Crown corporations to compete in today's marketplace and provides data from the World Bank on profitability and productivity of state-owned companies that have privatized. The example of B.C.'s intention to privatize liquor is used with some comparisons to the effects of privatization in Alberta. Bibliography lists 4 sources.
Page Count:
2 pages (~225 words per page)
File: MM12_PGbcpvt.rtf
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Unformatted sample text from the term paper:
in a vast diversity of industries that range from a fish marketing board in Newfoundland to B.C. Hydro to timber and liquor (Larson and Neville, 1998). The Crowns involved are
responsible for managing in excess of $100 billion in public assets (Larson and Neville, 1998). The Crowns basically hold a monopoly in the industries where they have holdings. While
this type of economy may have served the interests of the people in the past, they can no longer do so. Public media have consistently reported significant waste of resources
in many of these companies. Furthermore, the marketplace is vastly different than it was 25 years ago (Larson and Neville, 1998). The global marketplace that has emerged with technological advances
have dramatically changed the competitive structure (Larson and Neville, 1998). It is extremely difficult, at best, for Canadian Crown corporations to compete effectively given the demands for efficiency in todays
market (Larson and Neville, 1998). Larson and Neville are quick to point out that the governance of Crown corporations is not totally ineffective but there are definite flaws in the
governance of these hundreds of companies (1998). When managed with less than total efficiency and effectiveness, the shareholders of any company suffer, in this case, the shareholders are Canadian citizens
(Larson and Neville, 1998). Privatization continues to be a topic of controversy but the benefits have been extolled for many years. Those supporting privatization have consistently pointed to the unchecked
growth of the government and the waste therein. One study revealed that the finances of many of these companies has become increasingly worse over the last decade, total debt of
the corporations increased to a total of $23 billion by 1999, debt that was guaranteed by the government (Frazier Institute, 2000). One study by the World Bank concluded that
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