Public ownership is collectivized, private is individual or a group of investors. Private ownership requires profits at a systemic level (if not individually), while public doesn’t need to. Does that make sense? With collectivized ownership we can abolish the profit motive, and plan the economy more effectively.
I’m curious how public ownership is managed. Do they also have people in charge, but they can be elected? And what motivates their decisions?
From what I understand, with private ownership there are directors who make decisions based on profit motives. Which doesn’t always align with what consumers want. Which is bad, of course.
How publicly owned differs from privately owned? I assume there are no person who collects the profit, is it correct?
Public ownership is collectivized, private is individual or a group of investors. Private ownership requires profits at a systemic level (if not individually), while public doesn’t need to. Does that make sense? With collectivized ownership we can abolish the profit motive, and plan the economy more effectively.
I’m curious how public ownership is managed. Do they also have people in charge, but they can be elected? And what motivates their decisions?
From what I understand, with private ownership there are directors who make decisions based on profit motives. Which doesn’t always align with what consumers want. Which is bad, of course.
Depends on the system, but think of how public services are run, that’s an example.
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No, they don’t. You have no clue what you’re talking about, nor how government spending works.