This is sound analysis sans ideological bs. The system lacks a self-correction mechanism.

The profit driven system is supposed to self-correct. We see this today, with Boeing for example (yes /s).

Now beyond snark, we can ask is the same thing happening to us that happened to the "commies" with the 'defense and national security' establishment raising troubling doppelgangers of "state industry" from the body of "market driven" neo-liberal capitalist societies?

So, we see issue is not really "ownership" but rather establishments ..

In fairness, there is a good chance Boeing is self-correcting now. After deaths and lawsuits. If it were a governmental entity, it’s plausible that would not happen and the company would continue as before.

At least that’s the idea, I think. May as well steel man the argument.

> The profit driven system is supposed to self-correct. We see this today, with Boeing for example (yes /s).

I'd argue that Boeing is exactly what happens when some company becomes too big to fail and is close to state owned without any correction mechanism.

The company starts losing touch with the reality pretty quickly because they don't need to.

The danger when it's too close to the state is to double down and keep the problems to continue further.

Eh, Boeing is a defacto state owned enterprise. Check out their board composition if you don’t believe me.

Or are you more complaining about the lack of honesty in these defacto situations?

In China, any company larger than a tiny one is state controlled anyway - someone from the CCP needs to have a board seat, and everyone knows what happens if you anger the party.