You can’t have your government owning everything and you can’t have the private sector owning everything.
There is a third way: cooperatives. Houses are owned by the people who live in them. Factories are owned by the people who work in them. Municipal infrastructure (water, electricity, internet, etc) is owned by the citizens who use them.
This removes the current need to maximize profit and ignore all other metrics. Nobody is going to vote for maximizing profits if that means the service they are using every day is getting worse.
There is no centralized government who controls everything. You still have market forces. But the people in control are not regulators or investors on the other side of the world, they are very close to the product and therefore have much better insight and more vested interests in the product succeeding aside from profit maximization.
There is a third way: cooperatives. Houses are owned by the people who live in them. Factories are owned by the people who work in them. Municipal infrastructure (water, electricity, internet, etc) is owned by the citizens who use them.
This removes the current need to maximize profit and ignore all other metrics. Nobody is going to vote for maximizing profits if that means the service they are using every day is getting worse.
There is no centralized government who controls everything. You still have market forces. But the people in control are not regulators or investors on the other side of the world, they are very close to the product and therefore have much better insight and more vested interests in the product succeeding aside from profit maximization.