The United States Postal Service is due to become completely insolvent by 2024. They continue to hemorrhage cash every year to the tune of billions of dollars. With the onset of UPS, FedEx and electronic mail, the post office looks to be doomed. But can, or should it be saved? And if so, how?
The answer is, as it is always, lies in innovation. But as the Post Office is controlled by our geniuses in government, it is virtually impossible to do so. That and it isn’t allowed to compete with private sector industries. If it is to be saved, there are but two choices – allow it to continue to be propped up with more government money, or to privatize it.
Andrew Heaton for Reason TV discusses why privatization is really the only the option.