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We have state enterprises, and they are all colossal failures today because it is so easy to hide corruption when the books is not open and they don't have to a
by tibbydudeza 3y ago
We have state enterprises, and they are all colossal failures today because it is so easy to hide corruption when the books is not open and they don't have to answer to shareholders.
State owned enterprises are fine if something needs massive capital investment to start off and nobody has the resources but there must be a plan for the state to disinvest.
Then again I prefer subsidies like the US does for semiconductor plants.
- mnd999 3y agoSo legislate for transparency, why shouldn’t state owned companies be subject to the same rules as public companies?
- tibbydudeza 3y agoPublic sector companies are audited by a state institution and the reports are tabled in Parliament where the oversight committees are majority controlled by the corrupt ruling party. Members of said committees are usually clueless about financial affairs. State = useless