Jip J. Dekker
mhoyeA serious question: industries that are reasonably described as necessary to the function of society, but who are no longer for whatever reason engaging the kind of competition that is assumed to keep prices down for their customers - why should they not be nationalized?
Geoff Berner@mhoye in a sense, they already are nationalized. In that their friends run the country for their benefit. Their de facto monopolies are the result of government policy. A national government doesn't need to capture an industry if the industry has already captured those who govern.
Ricardo Harvin@Geoffberner @mhoye That's not at all what nationalization is.
In a sense, you're more describing fascism.
Kevin Petker (they/them)@ricardoharvin @Geoffberner @mhoye I think that's the point... the fascism is what's preventing true nationalization.
Steven Heywood@mhoye
The risks incurred by these companies when mismanaged and/or asset-stripped tend to be already nationalised. There's the inevitable government bail-out, the same people stay in charge, bonuses are paid out regardless and upon recovery profits are offshored before loan payments are quietly forgotten about.
The risks incurred by these companies when mismanaged and/or asset-stripped tend to be already nationalised. There's the inevitable government bail-out, the same people stay in charge, bonuses are paid out regardless and upon recovery profits are offshored before loan payments are quietly forgotten about.
theo@mhoye people would see how much better it worked and start getting ideas above their stations /s
JD@mhoye in a time of crisis I wonder why it isn’t necessary to do so.
Donny Winston@mhoye I can imagine fear of hysteresis in the nationalization process, i.e. if the former industry (now national service) becomes reasonably described as unnecessary to the function of society, and it turns out to be more difficult to privatize than it was to nationalize. I don’t believe this, but I can imagine that fear.
@mhoye I can also imagine people preferring de facto versus de jure socialization in the form of subsidies and “Agile” bailout “sprints” rather than long-term nationalization. Long-term thinking is hard.
Mori@mhoye Perhaps not nationalised, but certainly more throughly regulated. But nationalised would probably work better anyway.
Sean@mhoye or govt operates a competitor in the market.
Many years ago we had a state govt operated bank and insurance company in NSW, Australia.
Voron@mhoye should and can are two different questions, most of those industries freaking own too many politicians.