A tested method for today’s opportunities
The concept of privatizing public services has the ability to create skepticism and controversy among the laymen. However, public-private partnerships (PPP) have been part of the fabric of American history since its inception. Simply put, a public-private partnership occurs when the public sector (the government) and the private sector (business or private entity) enter into a partnership in order to achieve a goal — either providing a service or engaging in a project. There have been countless examples of such partnership dating back to the Age of Exploration when new routes were discovered by daring explorers, to recent times when waste management, water, and other public services are provided by private companies. This type of partnership is what has allowed humans to continue making progress, as it relies on the expertise of a private organization to get specialized work accomplished while the governing bodies can ensure their constituents will be entitled to the benefits.
Public vs. private good
“Public Goods” are defined by two characteristics — “non-excludability” and “non-rivalrous” consumption. This means that it is a good or service that generally is not performed for a profit, can be used by a number of people at the same time, and is not hinged upon payment…
