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Fiscal Retrenchment And Privatization - College Term Papers

Fiscal Retrenchment And Privatization



A problem that is always on a city's mind is its economic state. When a city finds that $3.8 million has been misappropriated in different funds, it has to question if it is headed towards a fiscal crisis. With a new mayor and township council, there was an investigation done into the township finances. Going back since 1996 there a deficit of $3.8 million dollars has been missing. Where has this money gone, and what is this new council going to do to get it back and keep the township going? One possible solution to this fiscal problem may be .
Fiscal retrenchment occurred during the mid 1970’s when “cities were forced to reevaluate their roles, regardless of whether they were in ...

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in helping keep things like neighborhood security and libraries in service. Although the volunteerism was a good way to help, the most significant change was the privatization of services.
Privatization “may well be seen by the future historians as one of the most important developments in the American political and economic life in the late 20th century” (Knox, 363). By using privatization, cities were able to fund projects that could have been cut out of the budget or just left “on the drawing board”. It began that cities hired private companies to take care of mainly water and sewage handling. By 1985, there were 15 municipalities that had hired private companies to take care of their water and waste services. Because of the success of the privatization of those, they expanded to streets, bridges, municipal buildings, and even garages. Today, the privatization has continued to be used for those as well as many more. In a survey done, “80% of US localities are now using ...

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Fiscal Retrenchment And Privatization. (2004, April 3). Retrieved December 23, 2024, from http://www.essayworld.com/essays/Fiscal-Retrenchment-And-Privatization/5649
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PAPER DETAILS
Added: 4/3/2004 01:43:40 PM
Category: Economics
Type: Premium Paper
Words: 574
Pages: 3

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