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Private industry is certainly not immune from incompetence or accounting scandals. Wirecard just happened, and history has many other examples. Corruption exist

• eadmund 6y ago
  > Private industry is certainly not immune from incompetence or accounting scandals. Wirecard just happened, and history has many other examples. Corruption exists in both private and public sectors. This is getting way off-topic, but there is one key advantage to private industry: there are typically competitors. A bad CEO can ruin one firm, but a bad politician can ruin a country. Also typically, a bad CEO may not use armed men to force his employees to do things; a bad politician may.
  • Klinky 6y ago
    Lehman Brothers didn't ruin the country? At least there were competitors that could take up the slack, oh wait they all made the same mistakes and basically ruined the entire world. A CEO can outsource labor and materials procurement to countries where armed men are coercing employees/slaves. It's quite likely a company is outsourcing human rights violations. They can also put out marketing campaigns during pandemics worshipping "heroes" while putting their employees in harms way for no extra pay. There has also been a rash of hostile environments involving sexual harassment and racist behavior. Coercion doesn't always require a gun in your face.