PPPs originated as an accounting trick, a way round the government's own constraints on public borrowing. This remains the overwhelming attraction for governments and international institutions. Just as companies like Enron had tried to conceal their true liabilities by moving them 'off-balance-sheet', so governments started using PPPs as "tricks.... whereby public accounts imitate the creative accounting of some companies in the past." (David Hall, Why Public-Private Partnerships Don't Work) + PRIVATE + PUBLIC + PARTNERSHIPS + APPENDIX http://ge.tt/13MslHo2
PPPs originated as an accounting trick, a way round the government's own constraints on public borrowing. This remains the overwhelming attraction for governments and international institutions. Just as companies like Enron had tried to conceal their true liabilities by moving them 'off-balance-sheet', so governments started using PPPs as "tricks.... whereby public accounts imitate the creative accounting of some companies in the past." (David Hall, Why Public-Private Partnerships Don't Work)
+ PRIVATE + PUBLIC + PARTNERSHIPS + APPENDIX http://ge.tt/13MslHo2
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Moore, Bob LET ME SHARE MY BIOGRAPHY WITH YOU IN TERMS OF A 'DIALOGUE IN THE DARK': "IT'S DARK IN HERE. YES, IT TRULY IS. DO YOU LIKE IT? NOT ALWAYS. HOW ABOUT IT NOW? I'M COMFORTABLE. WHY? WELL, I'M IN COMPANY. WOULD YOU MIND CLARIFYING THAT? HMH, ALL ALONE I'M AFRAID OF DARKNESS. HOW COME WE'RE SITTING IN THE DARK? SEEMINGLY, THERE'S NO NEED TO FEAR IT. HOW COME WE HAVEN'T LEFT ALREADY? I'M AFRAID, I CAN'T TELL. ME NEITHER. BY THE WAY, OUTSIDE IT SEEMS TO BE AS DARK AS INSIDE. WHY DON'T WE FIND OUT? SURE, COULD YOU SHOW ME THE WAY? OF COURSE - BUT IT'S DARK. YES, I CAN'T SEE THE DOOR, BUT I KNOW WHERE IT IS. SURE, I KNOW WHERE I CAME FROM TOO. ME TOO, OK, LET'S GO. (OUTSIDE) IT WAS NICE TALKING TO YOU. MY PLEASURE, SEE YOU IN THE DAYLIGHT. SEE YOU IN THE DAYLIGHT."
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