[Pen-l] Short Synthesis of the recent pen'l nationalization debate

[Ann Davis <davisa@xxxxxxxxxx>]

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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