A controversial article in Alternet proposes public ownership is a viable alternative to corporate control of several key large scale enterprises. They list energy, airline and the bank industries as potential candidates. They are quick to isolate the need for this profound structural change to specific worldwide industries. Fields they name as among those that should remain in the private sector are high-tech industries, employee-owned companies, municipal electric companies and co-ops such as credit unions.
“Beyond Corporate Capitalism: Not So Wild a Dream” by Gar Alperovist and Thomas Hanna in Alternet.org (excerpt):
And, again, even when private corporations are managed more efficiently than public ones, the massive economic costs they can impose on society make internal efficiency look trivial compared with the waste caused by economic recession, healthcare irrationalities, and the truly extraordinary costs associated with unrestricted growth that damages the environment and causes climate change.
As the late liberal economist John Kenneth Galbraith once observed, “The issue is purely a pragmatic one: Is it working now, or would it work better under public ownership?” Further perspective was offered by the late E.F. Schumacher, author of Small Is Beautiful, still one of the most influential books for environmental activists and others. Radical decentralization, human scale, participatory control, and a mix of cooperative and private firms are essential wherever feasible, Schumacher held (as do we)—but “when we come to large-scale enterprises, the idea of private ownership becomes an absurdity.”