a big problem in LatAm is that privatization is really just granting privileged concessions to elites. Even with a privatized firm, you still have a ton of barriers to competition from both abroad and new potential ventures domestically. Even the bureaucracies inhibit competition and favor well-connected and wealthy cronies.

Nonetheless, good point in that privatization isn't a be-all end-all solution to all of the worlds problems. Freedom, transparency, and safeguards to property rights are better objectives than privatization ...they'll result in privatization, but in a healthier environment.