It isn't just sale of public institutions. In many cases, it is attempts to maintain the status quo when circumstances have clearly changed. Public sector pensions are a perfect example of this. I think most software engineers don't realize how good public servants have it. In a time of very little safe asset growth, defined benefit pension plans are simply unsustainable without massive increases in contributions. Yet everywhere it seems that contributions are not going up and the people are employing various tricks to keep things going. In a fair market, the new reality would be accepted and pension plans would change. But here we are.

Btw ... in the book Fate of the State, the author suggests states to privatize their assets to meet their funding shortfalls. So the neoliberals will truly profit while things get worse. Sad.