No government is efficient. They are tiered bureaucracies by nature.
That said, if private business fails to:
1. Be successfully run. (airlines)
2. Benefit a universal public need. (health care industry)
then government needs to step in. Airlines cannot make it without huge bail-outs, which is getting ridiculous. Those that do like JetBlue, etc are using outdated jets over 30 years old that will need to be retired.
Health care - well, whether its insurance or drug companies or providers, everyone seems to want to make more more more. This is to the huge expense of the patient both financially and in terms of quality care.
So, no, I don't believe there is too much gov't control and wouldn't mind seeing them step forward in some industries. BTW, the original example of utilities - I think that deregulation will work itself out in that sector, just not as quickly as we'd maybe have liked.
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