Every year billions of public dollars and assets flow into the hands of private businesses like charter schools, leaving public schools, the economy, the public interest, and the nation worse off. This is due to the fact that competing owners of capital are using deregulated charter schools to atomize the socialized economy for private gain. As pay-the-rich schemes, privately-operated charter schools drain the large-scale socialized economy of a huge amount of social wealth produced by working people and meant for the public interest.
When public funds leave the public sector and end up in the hands of deregulated private entities like non-profit and for-profit charter schools, that means narrow private interests are benefitting at the expense of the public. It means less added-value is used by and benefits the public. It means all public wealth is not reinvested fully and directly back into the public sector. Instead, a large portion of social wealth produced by workers is illegitimately claimed by external private claimants whose aim is to maximize profit as fast as possible.1 This distorts the economy and undermines public schools and the public interest. It is a net loss for society. It is socially irresponsible. Funneling public funds to private interests undermines modern nation-building that relies on a diverse, self-reliant, balanced, and pro-social economy under public control.
It may be asked: Why don’t public funds stay in public hands? Why aren’t CONTINUE READING: Charter Schools Distort the Modern Socialized Economy | Dissident Voice
