Public Private Partnerships: Crony Capitalism or Free-Market Alternative to Big Government?

At a time when the federal government is running a national debt of $19 trillion and more than 75 percent of the federal budget goes to payments to individuals and special interest, innovative financing through public-private partnerships should not be viewed as crony capitalism, but as a time-tested way for Adam Smith’s third and last duty of the sovereign or commonwealth to be accomplished.

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