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Yeah, like IBM and Intel and GE and GM are shining examples of how effectively the private sector runs companies. Maybe large enterprises are by their nature i
by saulpw 1y ago
Yeah, like IBM and Intel and GE and GM are shining examples of how effectively the private sector runs companies. Maybe large enterprises are by their nature inefficient. Maybe productivity isn't the best metric for a utility. We could, for instance, prioritize resiliency, longevity, accessibility, and environmental concerns.
- whimsicalism 1y agoEven those problematic companies exemplify the difference: when enterprises are mismanaged and fail, capital is reallocated away from them.
- saulpw 1y agoThe US government just allocated $10b towards Intel, and bailed out GM in the past. So what you said is clearly not the case. Now we have publicly-funded private management that is failing. At least if they were publicly owned and managed outright, they wouldn't be gutted by executives prioritizing quarterly profits.
- whimsicalism 1y agoExecutives should prioritize producing things people are willing to pay money for cheaply. If there is a bias towards short-termism, that is a governance problem that should be addressed. I agree that the US taking stakes or picking winners is bad, I don't think it follows that nationalization is the solution.