Random Bits of Randomness

The above question was posted to an online forum that I frequent.  Below is my response.

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Because, as soon as the government takes ownership of a company in any sector of business, immediately it limits (or potentially eliminates) competition. How can you compete against a business with access to unlimited money and who makes all the rules??? You can’t. And once the competition is eliminated, there is no check and balance to the variety and cost of services provided or products sold. 

We absolutely don’t want a bunch of government monopolies everywhere. Anyone remember the cost of a long distance call under AT&T before it was broken up? Or even the cost of a local call??? Now there are unlimited plans countrywide for 20 bucks a month. Thank you competition.

With the government having ownership interest (and majority interest mind you) in a bank, how long do you think it will be before they start dictating how they operate? And once it begins down that road, the competition is screwed. And the last thing we want is 25% interest on loans while getting less than 1% on savings. That is where we are headed if there is no competition and government is operating the banks for profit.

Competiton is the only way to ensure fair prices, variety in selection and continued innovation in the market… and you can’t compete against government.