NO IT’S NOT SOCIALISM IT”S BANKING AND INVESTING ON A NATIONAL SCALE –“What if

NO IT’S NOT SOCIALISM IT”S BANKING AND INVESTING ON A NATIONAL SCALE

–“What if I told you that any government ownership of industry is socialism?’— (a well meaning fool)

That is not true. Any government ownership is separate from government management. Any management at cost (loss), at non-profit, and for profit determines returns for shareholders. The empirical evidence is that government investment in research and development, and in serving as financier and insurer of last resort has be disproportionately beneficial for peoples. We might argue instead that it is *necessary*. The only question is whether the government forces a monopoly or partial monopoly in favor of such an industry, and whether the management operates at a loss, at non-profit, or for profit. And whether those profits are distributed to employees, managers, or owners (citizens). In fact, we should, as citizens, ask why the majority of investment returns are not returned to the commons (government) for use by the citizenry when government (citizens) provide funding and insurance of last resort. In other words, the financial sector as it is structured today other than as early stage investors, appears to be parasitic upon those institutions (industries) for which the government serves as both financier and insurer of last resort.

The question is whether government manages (bad) or not. Not whether government invests or not.

Curt Doolittle

The Propertarian Institute

Kiev, Ukraine.