well, the thing is, if the state was really on a "all for the people, nothing against the people" theory, then i'd feel safe to give control to the state. but the state isn't a static entity, it's something that is made up of some people that are in the government, and they can very well manipulate things for their personal gain
i'm not in favor of the state as being "just another" form of private company, but atm it's really what happens, maybe it (in theory) happens less in cases of monarchy, because the pride of a monarchy would always be its countries' people? therefore, for your personal gain, you would make sure your country is economically well. with a monarchy, it's a personal thing, your country reflects who you are. without monarchy, you're just that bastard who stole from the country for 4 years so you don't give a crap about it. of course, this theory means nothing if the monarchs are also bastards
![Razz :P](./images/smilies/icon_razz.gif)
based on what you said, i'd prefer the nationalistic view over the liberal view, but one thing i tell you. private companies work well or they are obliterated. public companies work like shit, but they don't disappear, they just keep on eating the country's money. based on the example of portugal, i would say that 99% of public companies are a total disaster. it's annoying as fuck to see such things exist.
if you're a private company and you don't do well, people won't be happy with you, people won't buy from you and you're fucked. but not if you're public. best example of this is CP, a portuguese train company. and it gets incredibly worse when there's no competition. they can be as shitty as can be but people still have to rely on them because there's no alternative