The changing infrastructure of debt relief: privatisation, bureaucracy and public choice

Katharina Möser

Chapter 5 in Debt and Austerity, 2020, pp 94-124 from Edward Elgar Publishing

Abstract: This chapter explores the changing infrastructure of debt relief by placing it in the context of wider historical trends towards public sector privatisation. It thereby provides a critique of William Niskanen’s budget maximization model, which promotes various forms of privatisation as a solution to public choice problems within bureaucracies. Ultimately, it suggests that the move toward market-based debt relief procedures has served the self-interests of the Insolvency Service’s bureaucratic elite at the expense of its workforce, insolvent debtors and the general public.

Keywords: Economics and Finance; Geography; Law - Academic; Sociology and Social Policy (search for similar items in EconPapers)
Date: 2020
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