The Urgency of Profitable Losses |
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| Authors: | Sudha R Shenoy Lecturer |
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| Institution: | Economics History, University of Newcastle, New South Wales. She has also taught at the University of Sydney, and at the Cranfield School of Management. Sometime Visiting Lecturer at Ohio University and the Center for Market Processes, George Masson University, Fairfax, Virginia. She edited A Tiger by the Tail: A 40-Years' Running Commentary on Keynesianism by F A Hayek, has written on monopoly, Indian economic development and the Hong Kong economy, and is researching into applying Austrian capital theory to british and International economic history |
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| Abstract: | The central flaw in the policies both of privatising state-owned assets and contracting out local authority services is that they protect existing producers. Sudha Shenoy, of the University of Newcastle, New South Wales, uses the 'Austrian' analysis of constant change in conditions of supply and demand to show why all producers must be exposed to the threat of loss from dissatisfied |
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