The distinction I’m making is between public sector and private sector, not privately held versus publicly traded
>> if you really care about the impacts of boom and bust don't worry about what the private sector is doing
> This makes zero sense.
No it makes 3 sense.
The private sector will always boom and bust. If you try to solve that with regulation you a) can’t and b) just make it harder for smaller businesses to compete.
Only the government can offset the whimsy of the private sector and prevent the inevitable boom and bust cycles of private investment from destabilising society.
The distinction I’m making is between public sector and private sector, not privately held versus publicly traded
>> if you really care about the impacts of boom and bust don't worry about what the private sector is doing
> This makes zero sense.
No it makes 3 sense.
The private sector will always boom and bust. If you try to solve that with regulation you a) can’t and b) just make it harder for smaller businesses to compete.
Only the government can offset the whimsy of the private sector and prevent the inevitable boom and bust cycles of private investment from destabilising society.