As usual, big, far reaching platitudes like this sound good... but the devil is in the details.
If men were angels, we might be able to trust them to come up with a plan that would benefit all of us (pubilc, corp, workforce). But as history should have taught us, politicians will use their power to help specific groups (or themselves).
That speaks to man's motives... but not to his abbilities. And man is not God, he is not omniscient (sp?).
Even if government did come up with a plan that seemed palatable to everyone (public, corp, workforce), there is no reason to believe that it would be the best or most profitable plan. Again, history should inform us that it most probably would not be.
I would much more trust Adam Smith's "Invisible hand" of economics to fix the problems with the industry rather than Robert Crandle's very visible hand of government.