Private ownership of land and capital is also enforced at the barrel of a gun, lol.
When monopolies are common, every business school student openly aspires to rent-seeking moats, and regulators snore more loudly every day, the claims that the private market is checked by competition frequently ring hollow. The big difference between public and private sector is that the private sector has literally entitled themselves to this rent seeking behavior, while it's only a metaphor in the public sector.
Don't get me wrong, I think competition is a brilliant principle and I think markets are the place to make it happen, I just think that strong anticompetitive forces are common natural occurrences in free markets and I think that the government should play a stronger role in checking them.
When monopolies are common, every business school student openly aspires to rent-seeking moats, and regulators snore more loudly every day, the claims that the private market is checked by competition frequently ring hollow. The big difference between public and private sector is that the private sector has literally entitled themselves to this rent seeking behavior, while it's only a metaphor in the public sector.
Don't get me wrong, I think competition is a brilliant principle and I think markets are the place to make it happen, I just think that strong anticompetitive forces are common natural occurrences in free markets and I think that the government should play a stronger role in checking them.