tag:blogger.com,1999:blog-8774848724259616420.post4843414266894764406..comments2023-12-19T19:28:28.619-08:00Comments on Wealth is not the Problem: Bank Nationalization by any other name....HaynesBEhttp://www.blogger.com/profile/11263223513305886233noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8774848724259616420.post-54100513840558147662009-03-02T07:30:00.000-08:002009-03-02T07:30:00.000-08:00This comment has been removed by the author.The Rat Caphttps://www.blogger.com/profile/06641716225847901280noreply@blogger.comtag:blogger.com,1999:blog-8774848724259616420.post-37959659365505197512009-03-02T07:29:00.000-08:002009-03-02T07:29:00.000-08:00Beth,Thanks for the post. It strikes me that this ...Beth,<BR/><BR/>Thanks for the post. <BR/><BR/>It strikes me that this is exactly the difference between fascism and socialism. In the case of fascism, one retains nominal property rights, i.e., acts as a steward of their "property" when in fact the state calls the shots. In the case of socialism (say Chavez or Russian style), the state claims de jure ownership of a company through an outright nationalization. The difference between fascism and socialism can be summed up as the analyst you quoted made clear: de jure nationalization or de facto nationalization. <BR/><BR/>Since "socialism" as an ideology has lost currency politically, it is likely that we will continue to see fascist methods used by the state to effect its controls. This is basically what Peikoff predicted in The Ominous Parallels. <BR/><BR/>The important point is that there is no actual difference between fascism and socialism. They both represent a denial of property rights just in slightly different form and they both lead to the same effect: the destruction of the economy and civilization.The Rat Caphttps://www.blogger.com/profile/06641716225847901280noreply@blogger.com