[Pen-l] Desperately seeking/avoiding nationalization

["Charles Brown" <charlesb@xxxxxxxxxxxxxxxxxxxxx>]

1. Can we discuss this without ideological blinkers? On the ÃleftÃ
thereÃs a tendency to regard the failures of markets or private
ownership as inherent features of the system, whilst failures of
government are mere accidents. The Ãrightà makes the opposite error.
[...]
>>

Laurent

^^^^^
CB: How is it that failures of  the 
government  in banking are 
systemic ? In what sense,
are they "systemic"  and 
not case-by-case errors,
"accidents" ? Whereas,
failures of private banks
follow from those
banks following fully
their basic logic of
profit maximization,
i.e. are systemic to the
logic of a free market
and free trade.


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