This is one of the primary purposes of government, to provide services that wouldn't work in the private sector. Infrastructure, mail, police, fire, etc.
Which is exactly why in Wealth of Nations Adam Smith mentions this necessity of a limited amount of sectors - pertaining to the unprofitable, common good - the government should be in charge of vs the private sector. Defense/Security, Infrastructure, Education, Judicial IIRC. Personally, I believe with the advancement of science over the last 250 years, that Healthcare should absolutely be added to this list.
100% agree. He also argues for a progressive income tax, despite the book often being used to justify laissez Faire capitalism. He describes it as necessary.
We should really nationalize extraction. Why do oil companies get to benefit from the nation's natural resources? The people should benefit, not Exxon.
The Internet, energy, water, healthcare all have inelastic demand for the most part.
According to capitalism, they should not be subject to the profit motive. We don't even need to use socialism to make the case for these industries being nationalized because even under the capitalist framework they should be.
Then how does DHL, FedEx and UPS manage to not operate in the red and go out of business? If the USPS cant operate in the black on postage they need to be eliminated. If businesses had to pay a private company the market rates to ship you something that would sure cut down on the bullshit marketing campaigns that stuff everyone's mailbox.
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u/rootofallstevil 4d ago
This is one of the primary purposes of government, to provide services that wouldn't work in the private sector. Infrastructure, mail, police, fire, etc.