Subnostr

If govt has a central bank that controls interest rates & money creation & they control & regulate all banks, then we basically have communism laundered under "capitalist" labels.

With enough regulatory control & taxation & subsidization, nationalization of industry is unnecessary & would produce no significant difference in conditions.

kepford 1y ago

First part is right. Last but is wrong. Fullycentrally planned economies do not work. Study the USSR. China realized this and liberalized. It could be much worse under full communism.

The mistake most make when thinking about communism is focusing on the politics. The worst part is the central planning.

Central banking is easier to hide because of complexity.

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Jeff Swann 1y ago

Oh it can get worse from where we are, but prices in many ways already aren't efficiently allocating resources because monetary policy IS central planning. They do not have to call it nationalization to effectively nationalize everyrhing & squeeze out all real competition or profit & loss.