Dan Cannon and Todd Krieger, I believe you are both right but dancing around the issue because you are both referencing different specialist vocabularies that use similar or the same words with different implied meaning.
In Finance what Todd is saying is correct.
From a Political Science when discussing Private or Public goods it is in terms of whether a government owns something or not. In that solution space of terminology Dan is correct.
Many of the arguments we have in politics anymore seem to stem from having many many specialize vocabularies that all use the same words but with different meanings.