My observations of state owned enterprises reflect the view that they are very inefficient when viewed through traditional business prisms of cost & benefit, but that they are not necessarily set up for traditional 'business benefits'...instead social benefits and other benefits (geostrategic?) seem to trump the 'hard-nosed-business-analysis' that you and i may be more familiar with. Current business organization trends in the East and West seem to reflect a greater preference for SOE's in the East than in the West (although there are of course exceptions to this...Fannie Mae, Freddi Mac, Sallie Mae, the TVA, etc)
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