alternatehistory.com

How much better would British railways be if British Rail had been privatized intact, rather than broken up? As it is, vast amounts of money are squandered on transactional costs, such that the private rail companies need government subsidies far in excess of those paid to the old state-owned British Rail.

It's not as though it even created any competition: geographical factors mean that instead it was just a case of one big monopoly being broken up into multiple smaller monopolies...
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