In an earlier era, states owned substantial industrial assets. This “commanding heights of the economy” model was rejected largely because it seriously under-performed, especially when state-owned sectors were protected from competition (as was the norm).
从前各国都拥有大量的工业资产。但这种“占据经济制高点”的模式由于其严重表现不佳而遭到了摈弃，尤其当国有企业在竞争中受到保护时（这已经成为常态）。效率因此降低。但更重要的是，缺少企业的进入或退出——这才是创新的关键组成部分——导致经济活力不足，其损失也随着时间的推移而不断增大。