Re: the recent debate on nationalization of banks, please consider
these points:
Pro:
Such a nationalization reveals the underlying public, social nature
of the production, realization, and "preservation" of surplus.
Con:
A government takeover at this time saddles the public with financial
assets which are vastly over-inflated. Then the deflation occurs at
the public expense.
Counter-pro:
Public management of the necessary process of deflation may be more
rational and less destructive than otherwise.
Counter-con:
There is no government strong enough to safely and smoothly manage
this magnitude of deflation. Such a deflation represents a
thorough-going global financial crisis which is difficult to contain,
regardless of the so-called managerial competence of the public sector.
Comments, additions, deletions, and corrections are most welcome.
Thanks,
Ann
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