The problem is not mere ownership though. Who owns it matters, because different owners have different incentives.
The incentive of a private business owner is profit. Especially for a company that is publicly traded, where investors have the power to sue management for malfeasance if they don't get a return and the company has been particularly charitable. If it can be done, you must fuck over the customer to make profit for shareholders, or be replaced by someone who will.
The incentive of a nationalized industry is the good of the state and its voters. Management is incentivized to provide a good product at a fair price to everyone, or else they get voted out of their job.
The problem is not mere ownership though. Who owns it matters, because different owners have different incentives.
The incentive of a private business owner is profit. Especially for a company that is publicly traded, where investors have the power to sue management for malfeasance if they don't get a return and the company has been particularly charitable. If it can be done, you must fuck over the customer to make profit for shareholders, or be replaced by someone who will.
The incentive of a nationalized industry is the good of the state and its voters. Management is incentivized to provide a good product at a fair price to everyone, or else they get voted out of their job.