When I was at the World Bank, it would often be said in the face of obvious failure that our strategy was correct, it just wasn't implemented well. - Joseph E. Stiglitz

At the same time I have noted that some of the differences between the public and private sector may have been exaggerated they are differences among the activities being pursued, not differences of the sector within which they are pursued. Private sector organizations face incentive (principal-agent) problems no less than do public organizations.
Some of the differences are not innate but are more a consequence of common practice. The most important of these is the absence of competition and the high degree of centralization. Government organizations no less than private organizations dislike competition. The difference is the government has the power to forbid competition, which private organizations do not and indeed government sees one of its roles as curbing unfair practices aimed at reducing competition.

Economists often like startling theorems, results which seem to run counter to conventional wisdom.

Instead, unchecked by competition [by the USSR] to "win the heart and minds" of those in the Third World, the advanced industrial countries actually created a global trade regime that helped their special corporate and financial interests, and hurt the poorest countries of the world.