1. many communist nations in china, vietnam, russia attempted to abolish the private sector. The planned economy lead to stagnation and poverty. World need public and private sectors.
2 Truth: world needs both public sectors (state) and private sectors (private enterprise, private markets.
Public sectors can handle public safety, public health, public justice and national defense. Health, safety and protection of the natural environment.
3 Truth: Private sector is good at providing needed products and services like food, clothes, shoes, computers, cell phones, internet, news, cars, airplanes.
4. Truth: public and privates is both needed in the modern world. Nations, like russia, china, vietnam and korea who have attempted to abolish the private sector lead to diaster.
Idiot karl marx predicted the "end of the state". False. Wrong. Bogus nation.
World needs both sectors.
Public sectors and Private sectors to provide citizens with essential goods and services in 21. century.
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