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The beginning of nationalizations?  - Economic policy

The beginning of nationalizations? – Economic policy

In many countries and sectors of activity, European states levy taxes on what they consider to be excess profits. Which companies are affected? Energy producers and distributors, banks, insurance companies, and even, in Norway, fish farming companies.

The word “nationalization” is not (yet) uttered, but it may be the beginning. The currency, which is certainly a public good, has been renationalized since the ECB decided to take control of the financing states and the interest rate curve, something that would have been unthinkable when the single currency was created.

I have the intuition that the next few years will demand to witness the return of the enlightened State as the dominant player in the economy, in the form of strategic impulses. The end of the neoliberal parenthesis will perhaps be accompanied by nationalization or nationalization of whole sections of the economy, for lack of having been able to find a moderation of the private sector, too long linked to its self-regulation, in many sectors close to the basic needs of citizens.

This goes even further: it is not excluded that if companies and States do not join in a structured partnership, political articulations will collectivize whole sections of the private economy, in the form of confiscation and nationalizations.

Be that as it may, we have to face a reality: Anglo-Saxon neoliberalism is over. It lasted 40 years, with advantages, but also great imbalances, now aggravated by recent events.

The word “nationalization” is not (yet) uttered, but it may be the beginning. The currency, which is certainly a public good, has been renationalized since the ECB decided to take control of the financing states and the interest rate curve, something that would have been unthinkable when the single currency was created. dominant player in the economy, in the form of strategic impulses. The end of the neoliberal parenthesis will perhaps be accompanied by nationalization or nationalization of whole sections of the economy, for lack of having been able to find a moderation of the private sector, too long linked to its self-regulation, in many sectors close to the basic needs of citizens. This goes even further: it is not excluded that if companies and States do not associate themselves in a structured partnership, political articulations collectivize whole sections of the private economy, in the form of confiscation and nationalizations. Be that as it may, we have to face a reality: Anglo-Saxon neoliberalism is over. It lasted 40 years, with advantages, but also great imbalances, now aggravated by recent events.

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