Public versus Private Enterprise

enterprise
n.
1. An undertaking, especially one of some scope, complication, and risk.
2. A business organization.
3. Industrious, systematic activity, especially when directed toward profit: Private enterprise is basic to capitalism.
4. Willingness to undertake new ventures; initiative: "Through want of enterprise and faith men are where they are, buying and selling, and spending their lives like serfs" (Henry David Thoreau).

public enterprise
n.
(Economics) economic activity by governmental organizations.

private enterprise
n.
1. Business activities unregulated by state ownership or control; privately owned business.
2. A privately owned business enterprise, especially one operating under a system of free enterprise or laissez-faire capitalism.

The world needs less public enterprise and more private enterprise...

Source: The Free Dictionary