LAUSD AND THE WHY OF PRIVATIZED PUBLIC EDUCATION (VIDEO #6)
(For a national view of public education reform see the end of this blog post)
One of the main functions of government has been to educate its population. With ever increasing corporate sovereignty that has gotten to the point where it challenges the supremacy of government, corporations are in an all out fight to privatize public education. The reasons are two-fold:
1. A revenue stream that is conservatively estimated at $370 billion a year lies in the balance for private interests that are finally able to supplant the tradition public function of educating our youth. It is estimated that a hedge fund could double its money in 7 years by running a publicly funded charter school, while taking advantage of generous federal and state tax benefits. Then, like with the credit default swapsand sub prime fiascoes, these charter operators could then dump these debt laden charter back on the state and taxpayers for them to clean up the mess.
2. In addition to a financial benefit, corporate privatization of public education means that public