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Sure if you change the meaning of the words private and public it makes sense.

But if you're not using 1984 style doublespeak the statement is absolute nonsense.

The private sector literally kidnapped millions of Africans to be slaves

Firstly, not entirely true. And secondly it misses the point; you can still voluntarily trade commodities, even if those commodities are unsavory. whereas the public sector requires consent. Who kidnapped those Africans?