Is private enterprise good?
Yes:
it offers freedom to act without the constraints of bureaucracy;
it encourages innovation;
it rewards initiative;
it encourages the supply of what people actually want;
it creates competition and hence promotes efficiency.
No:
it promotes greed;
it rewards ruthless exploitation;
it rewards the creation of artificial demand;
it does not address, and can act against, global, national, and other non-specific, needs;
it allows control of essential services to be in the hands of foreign corporations and governments.
Conclusion:
we must have it;
it must be appropriately and independently regulated;
it needs to operate within a framework of national policies, laws and taxation.
Is public ownership good?
Yes:
it inevitably makes the objective social benefit rather than commercial profit;
it protects against the risk of loss of service by insolvency or by commercially motivated reorganisation;
it keeps control of essential services within the country;
it keeps profits in public hands.
No:
it tends to hamper commercial freedom with needless bureaucracy;
it risks having commercial business managed by commercially inept bureaucrats;
it encourages aloof and insensitive decisions on what goods and services should be supplied;
it inhibits competition and hence promotes inefficiency.
Conclusion:
we must have it;
it must be appropriately and independently regulated;
it needs to be operated in a commercially and financially appropriate manner.
CONCLUSION: We must have both. And the best way to do things should not be decided by any party’s political dogma.
Case studies: To be written up. And all ill-remembered “facts” to be checked.
Electricity.
Water.
Railways.
Buses.
Coal.
BP.
RBS.
TSB.
TV.
Press.
J Sainsbury.
Phoenix.
Post Office.
Royal Mail.
Direct Labour.
Land.
WJW/