As the second largest construction company in the United Kingdom tragically collapses, the British government assumes the position of declaring, it is nothing to do with us. But, is that so, and, if it is, is it prudent?
The banking collapse of 2008, we are told, could not have been allowed to continue by the relevant governments affected. Because the banks were too big not to be saved by government intervention.
So, what did these governments do? Yes, they intervened to save the banks, and thereafter place more rigid regulations on them, in the hope that that will prevent a recurrence of the problem.
Yes, there could be some other problems or catastrophe in future, but, not that kind, they hoped.
So, what is the responsibility of governments, let us say, in the so-called 'liberal democracies', with regards to helping to safeguard and promote private industries?
Do governments have any responsibility for safeguarding and promoting private sector businesses?
Of course they do. How else could they reasonably expect to meet their responsibility for helping to create and provide jobs for the masses?
To create wealth, from which they can fill their coffers by levying this and that taxes?
Where would they get the money to invest in building and maintaining the necessary and essential infrastructure to develop their countries. And to meet the essential social care needs of their people?
So, yes, government has a vital role to help to safeguard, at least, what might be considered as the vital industries in the private sector.
This is a responsibility they can meet in several ways. Including helping to create the environmental conditions which are conducive toward the establishment, promotion and growth of private sector business.
By them helping to create a climate of confidence in business opportunities, and, yes, the achievement of a certain level of profitability.
So as to provide the incentive for both ordinary citizens and institutions to invest in both short and long-term business projects. Including the high risk
To be continued!
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