Britain privatized its train system under Margaret Thatcher. Tony Blair continued and extended the policy even though it had failed to improve service and lower cost. The NYT reports today that the train system is still poorly run, but neglects to mention the privatization experiment.

–Dean Baker

Dean Baker is senior economist at the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, including Rigged: How Globalization and the Rules of the Modern Economy Were Structured to Make the Rich Richer. Read more about Dean.