> On Feb 17, 2016, at 1:08 PM, Ian Murray <[email protected]> wrote: > > > From: [email protected] <mailto:[email protected]> > The central issue is not the size of the overweight financial industry, but > that it needs to be nationalized, rationalized, and reoriented to serve > public needs rather than private interests. Despite their being conditioned > to regard public ownership in the abstract as anathema, I’m convinced that > most Americans would rally to the takeover of the unpopular financial, > pharmaceutical, and energy industries were any US politician improbably bold > enough to propose these as solutions. > > > ==================== > > This would so run into an enormous body of international financial law and > international corporate governance law that plenty of governments across the > globe have signed onto and the phalanx of lawyers who would be happy to take > a century to litigate while the oceans rise. One need only spend some time > with the European Journal of International Law, the American Journal of > International Law, International Financial Law Review while having Godley and > Lavoie's text on monetary macro handy to appreciate the challenges. > > In a world of capital flows and currency wars driven by algorithms, adderrall > and assholes, it is wishful thinking to embrace nationalization.
You could say that about pretty much all of our commentaries since the collapse of the SU, the demise or transformation of once militant unions and mass left-wing parties, and expansion of capitalism into new markets. > No, I'm not hinting anyone should just give up. We just need to rapidly > reassess the sheer complexity of what we seek to change to slow down… In this case, the alternative is to nationalization is the increased regulation of the financial sector proposed by Kashkari and Sanders, among others. > > http://www.iflr.com/Article/3529897/Lending/Too-big-to-fail-RIP.html > <http://www.iflr.com/Article/3529897/Lending/Too-big-to-fail-RIP.html> > > _______________________________________________ > pen-l mailing list > [email protected] <mailto:[email protected]> > https://lists.csuchico.edu/mailman/listinfo/pen-l > <https://lists.csuchico.edu/mailman/listinfo/pen-l>
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