Neoliberalism has convinced governments in liberal democratic states to transform themselves and society according to the values and practices of the market. This book examines these changes within the context of market failures in services relinquished to the private sector by governments. Using examples such as the collapse of Railtrack in the UK, the energy crisis in the US and the Sydney water treatment scandal in Australia, it exposes the level of risk which remains with government after privatisation, requiring them to resume responsibility when the private sector fails.