The Social Cost of Privatization of Public enterprises in Nigeria
No Thumbnail Available
Date
2003
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
ESUT Journal of Administration. 1(1):167–174. A quarterly Publication of the Department of Public Administration, Faculty of Management Sciences, Enugu State University of Science and Technology, Enugu
Abstract
The Keynesian development paradigm recommends that governments even through deficit financing should stimulate demand and the use of idle resources to reduce unemployment. It emphasized the need for the public sector to play a leading role in preventing market failures and accepting the responsibility for producing a wide range of goods and service. The massive expansion of the public sector in thefirst, second and third development plans was largely informed by this thinking. The present drive towards privatization is aproduct of the failure of the Keynesian paradigm to deal decisively with the worldwide economic realities of the early I970s especially among oil importing nations. There is a general belief that privatization will end the focal crisis of the nation as well as the interminable scandal associated with the operations of the public enterprises.
This paper argues that the social cost of privatization is so enormous that it may further worsen the standard of living of the citizenry. A discussion approach is used to examine the social cost of privatization.
Description
Adeoti, J. O. (2003): “The Social Cost of Privatization of Public enterprises in Nigeria”, ESUT Journal of Administration. 1(1):167–174. A quarterly Publication of the Department of Public Administration, Faculty of Management Sciences, Enugu State University of Science and Technology, Enugu.