What is the interest in having the state manage something at a cost when it is already free for its citizens.

It wouldn't provide index fund services, it would literally own the funds and thus the assets.

An index fund without customers is not really an index fund. It's just a private investment trust.

Basically you are saying the state should just slowly buy stock in every company until it owns every company.

It would have a customer: the public.

> Basically you are saying the state should just slowly buy stock in every company until it owns every company.

That's right. The goal is full public ownership of the means of production.

Not sure you have really thought this through.

The state is not the public.

In a democratic society, it is.

No, in a democratic soceity the state is a servant of the public.

Can't get around paywall to read TFA right now, but Vanguard funds are famously cheap in terms of fees.