Wednesday, September 24, 2014

Marc Faber : I strongly agree with Decentralization & Privatization of Schools

Global Gold : What are your thoughts on the privatization of schools? Do you think it’s a good idea? 

Marc Faber :  I strongly agree with decentralization. Generally, in small societies, democracy is more successful than in large societies. In countries like India or the United States, the federal government has become so large that they take decisions that are not necessarily in the interest of the individual. This is different from Switzerland, where we have municipalities, “Gemeinden”, and states, “Cantons”, with a lot of decentralized power, which I find very desirable. Well, I think that the privatization of the school system is by and large a good idea, but not necessarily everywhere. In some societies, schools that are run by the government are actually quite good, like in Switzerland, Finland, South Korea, Japan, Norway, Sweden and Denmark. However, in others they are a complete failure like in the United States where everyone with a higher income sends his children to private schools. That is very different in Switzerland. Overall, I think in some cases a public school system that is run by the government can be successful, but in most cases, it is a failure.

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.

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