While I am a (mostly) capitalist and generally disagree with nationalization (including, for the time being, this situation), I also don't think we can say that "centralized power never works". Maybe we scope that a bit. I know plenty of business owners who centralize power in their businesses and they are effective, ethical and it works perfectly fine. In theory, in the US, nationalizing some unit of the economy _decentralizes_ power; the US is, after all, a representative democracy. Trustworthiness of the electorate is a different problem. But I don't think we can generalize much about centralization beyond sometimes it works and sometimes it doesn't. There is a difference between centralizing all power in a given administrative unit, and centralizing certain powers, but that's more analogous to non-democratic units.