I think at this point, the counter argument to private enterprise is "Hey, China did it".

(I am aware that this is a facetious statement, and the main point you are aiming to make is that there are other factors that matter.)

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rayiner 2 hours ago | parent [-]

It’s not a counter-argument for two reasons. First, China doesn’t have voters. The problem with publicly owned utilities specifically is the pressure from voters to lower prices now at the expense of maintenance for the future. Not having voters eliminates that problem. More generally, the lack of voters means that China’s public sector operates completely differently than the public sector in democracies.

Separately, China has been moving more and more of its economy to the private sector for decades, ever since Deng Xiaoping visited Singapore: https://www.fairobserver.com/economics/china-and-its-mentor-....

	▲	intended 2 hours ago \| parent [-]
		Do read the second part of my statement, since arguing this further puts me in the awkward position of romanticizing China, which I do not want to do. I will disagree by stating that China's private sector isn't the same as a western or typical market economy private firm. The degree of state ownership is and central control are hard enough to make comps easy. State support in other ways other than ownership is another topic as well. I will also say that the Chinese government is receptive to its constituents. Not to the degree that we can expect in a democracy, but its not oblivious either.