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Proponents of government enterprise may retort that the
government could simply tell its bureau to act as if it were a
profit-making enterprise and to establish itself in the same way
as a private business. There are two flaws in this theory. First, it
is impossible to play enterprise. Enterprise means risking one’s
own money in investment. Bureaucratic managers and politicians
have no real incentive to develop entrepreneurial skill, to
really adjust to consumer demands. They do not risk loss of
their money in the enterprise. Secondly, aside from the question
of incentives, even the most eager managers could not function
as a business. Regardless of the treatment accorded the operation
after it is established, the initial launching of the firm is
made with government money, and therefore by coercive levy.
An arbitrary element has been “built into” the very vitals of the
enterprise. Further, any future expenditures may be made out of
tax funds, and therefore the decisions of the managers will be
subject to the same flaw. The ease of obtaining money will
inherently distort the operations of the government enterprise

 Rothbard, "Power and Market", pag 217