Our experience here in Scandinavia is the contrary. Here the respective governments of Sweden, Finland, Denmark and Norway own parts of banks, oil companies, major industries and insurance companies. To the best of these companies and the tax payers.
Sorry Olsen - I was being a little sarcastic and that might not have translated online. The link that I used actually talks about how well Saskatchewan is doing - and yes the "Crown" (government) has a large stake in a lot of companies that would be private in the US. I actually think the US can learn a bit from Saskatchewan.
HOWEVER, Saskatchewan was not always like this. In its hayday of "socialism," Saskatchewan was not working on all its econmic cylinders. However, at the moment, there seems to be a proper mix of capitalism and socialistic principles working together. I don't know why socialism always has to be pitted against capitalism. They can work with eachother instead of against eachother. This province, at THIS particular time, is really showing that it is possible to marry the two. The key is to have good government and management which actually try to make crown owned coperations productive for the people.
Having said all this, I still am a little concerned that the pendulum might swing to far the other side of big government and total socialism for many countries around the world, which is also not the solution.
How to fix this mess? Begin were it started: common people have to live within their means and start being fiscally responsibily. When the public becomes predominately fiscally responsible, then they will elect fiscally responsible leaders and hold them accountable, as they hold their own pocket book accountable.
My solution is oversimplistic, I know. But I am neither an economist nor a scientist, so what do I know? All I can do is try to be responsible for myself, teach it to my children, and most importantly thank God for all my blessing and acknowledge his providence and, if I ever loose my job, pray that he helps me be responsible and faithful in my poverty.