Apart from the mysterious “shoogly peg” this is an excellent call from former Ambassador Murray and one we fully support.
Large privatised industries are always run in the interests of their shareholders. Often the shareholders live in other countries. Or – in “another country” in the sense of a different social world. In any event this model can never deliver social justice and a reasonable amount of equality. The only factor that determines decisions in large publicly traded firms is ROI.
It is also true that a socialist economy – with nationalisation as the norm – will not generate as big a cake as capitalism. Socialists do need to own that fairness and wealth are not necessarily mutually 100% compatible. A more equal society is likely to be overall somewhat less wealthy than a purely capitalist one. But; there are intangible (at least not fiscally measurable) benefits to a fairer society – which compensate for the reduction in material standards that would accompany socialism.
Anyway; it is now a truism that the world needs to reduce its overall consumption for environmental reasons.