This is what happens when you "run government like a business"

That sounds like an over simplification to the point of being meaningless.

I think it’s worth reconsider that because we have seen many examples of the same thinking throughout our society. The underlying problem is the same - hyper focus on short-term cost reduction even when it entails significant long term costs - but it doesn’t manifest identically in every sector. Once you see it however, you can recognize that pattern pushed by the same unaccountable consultants everywhere.

And we've got more and more outright corruption creeping in, at all levels.

> hyper focus on short-term cost reduction even when it entails significant long term costs

That is exclusive to a small amount of public companies without a stable business model. So a tiny percent. That has little to do with "acting like a private business" in a competitive market. At least when you compare it to how 95%+ of business operate.

Ask yourself, why would a healthy business sacrifice long term value for short term stock price gains? I highly doubt the answer is "that's what the free market demands". No serious bank or investor would touch a business otherwise if that was a rational incentive (besides ponzi schemers).

Even among public companies (which is itself a small percentage of all businesses) that is rarely the modus operandi. It's just a meme that comes out via the inverse of survivorship bias...aka news stories of obvious failures. The only ones that could stick with pro-short-term-investor anti-consumer tactics like that around are monopolies and/or mega corporations friendly with government.