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First the good news: more loot for shareholders.
Next the bad news: more queuing, less choice.
Finally the ultra bad news: more job losses, and more jobs to be moved to 'low-cost locations'.
Followers of Ordoliberalism - like continental Christian Democrats - believed that:
" ... the state must create a proper legal environment for the economy and maintain a healthy level of competition through measures that adhere to market principles.
"The concern is that, if the state does not take active measures to foster competition, firms with monopoly (or oligopoly) power will emerge, which will not only subvert the advantages offered by the market economy, but also possibly undermine democracy itself, since strong economic power can be transformed into political power. "
http://en.wikipedia.org/wiki/Ordoliberalism
How right they were!
