Kevin Robert Dean So I see a lot of articles like this one http://www.ft.com/cms/s/0/3c301096-d37b-11dd-989e-000077b07658.html Which seem to be forced to say how inefficient state run enterprises are and how the private sector runs much smoother. Can anyone help this dumb LBOer out with counterpoints? Or are "state run enterprises" just a form of "State Capitalism" and not anything like a 'socialist' (or community based, whatever you want to call it) run enterprise would be like?
^^^ CB: One aspect of the argument is to point to the inefficiency of the private sector. We have just witnessed the biggest private financial institutions go bankrupt to the tune of $ 8 trillion. And the biggest private corporation in the world from a decade or so ago, is close to bankruptcy. No state owned and run enterprises have ever gone that bankrupt in US history. So, that's a big junk of data demonstrating that private enterprise is less efficient than public enterprise.
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