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"Public" vs. "Private" Sector

The distinction between the state, or “public” sector, and the “private” sector economy, is universal in commentary and policy analysis. But in the case of the corporate economy, it’s almost meaningless. First of all, the large corporation cannot be called “private property” in any meaningful sense. And second, the relationship between the corporate economy and the state resembles nothing so much as an interlocking directorate. …