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attempt to have judicious state intervention in the economy

Opposed to the just shovel money into our campaign donor's money pit approach we currently have, at least in the U.S.?

There seems to have been a lot of "state intervention in the economy" in the past 12-18 months. I think this intervention largely has not been for the overall good, just for the good of the world's wealthiest people and corporations at the expense of everyone else.

by Magnifico on Wed Sep 30th, 2009 at 03:41:49 PM EST
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There has never ceased to be cooperation between the state and big business - the description given by the elder Galbraith in The New Industrial State is still current, with the necessary adaptations. In Europe this accommodation includes the unions (which is why Goldfarb says Merkel is not about to dismantle the German unions). But the state has abdicated the common good. First by inaction, and then when business broke its toys, by shoveling money into their maws.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma
by Carrie (migeru at eurotrib dot com) on Wed Sep 30th, 2009 at 03:47:49 PM EST
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