most private-sector capitalists seem to know as much about ethics as I do about Rugby Football
That is why we need the middle road - private enterprise, where appropriate, that is subject to the crude but effective check of the free market to stop pointless empire building and waste, in conjunction with strong independent government regulators to make sure that they can make reasonable profits but do not exploit the consumer.
Much of the problem we have had with PPI etc is due to the complete failure of the public sector to set proper conditions for contracts or to enforce them, mainly because of the poor quality of public sector workers in my view. That is what you get when there are rigid union-enforced wage scales that do not properly reward personal ability.
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