Tuesday, October 18, 2011

Private and Public Sector: To each their own

As I have argued before, (see eg August 14, 2011 post: EU & USA: The right policies can come from the center) our times call for a system that provides the basics to each human and leaves them free to pursue or not the rest.

As I wrote in said post "Most political parties and political/policy platforms to the right and left of the center miss the concept that some things are better done by the market, some are better done by the public sector (aka the state). Each has activities where it is stronger than the other. Neither the (financial and other) markets nor the state should be an object of political or philosophical worship!"

Eg social security including healthcare insurance and healthcare itself are better provided by not for profit state owned or run systems (aka the European Social Model).

The current crisis in Europe and the US does not mean that European cannot support its Social Model. It means that not only social security but banking as well (except maybe for investment banking) are better run without a profit making goal by the state. If the state is to guaranteee all or most deposits, which it should, then why not own/run the banks too?

As I proposed:
"The center I am referring to recognises both:
a) the need to secure peoples' basic needs and
b) to give people more freedom in pursuing wants and dreams

in their work/economic or social or other aspects of their lives"

That is the basis for policy making in 2011. For the 99%. The private for profit sector is better at doing many many things. But not those that constitute basic needs such as healthcare and banking/savings keeping.

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