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What are the reasons for governments to own business and assets? Why has privatization of public enterprise taken place? Should public housing and airport in Hong Kong be privatized?
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PA302 (2) CHAN Sau-fung (S05012153) What are the reasons for governments to own business and assets? Why has privatization of public enterprise taken place? Should public housing and airport in Hong Kong be privatized? Reasons for establishing public enterprise Governments have established public enterprises for a variety of reasons. These can include inadequate private supply of goods and services; rescuing private firms if their closure is against the public interest; improving competition; reducing social costs such as environmental externalities; even to protect national sovereignty in some way.1 In fact, there are ideological and practical reasons for maintaining public ownership, its rationale is as follows: 1) Ideological consideration "Socialism" and "communism" are two modern ideologies for discussion of public ownership. Communism can be classified as one particular kind of socialism even though communist ideology differs very much from socialism. Socialists emphasis on the values of equality, social justice and cooperation while communist ideology is based on class...
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