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[Pen-l] Taxation/Regulation = Nationalization? [was: "Has Barack Obama's presidency already failed?"]



Max Sawicky wrote:
> Strong taxation plus regulation of a firm/industry at some level
> relative to nationalization is a distinction without a difference, or
> a difference in quantity rather than quality.

Regulation can be "captured" by the industry being regulated, as with
the FCC. On the other hand, a nationalized company might be captured
by its government-appointed bureaucrats. The key thing, I guess, is
popular pressure to countervail the influence of the big-money people
and the insiders.
-- 
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.
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