3 ms·
No, Venezuela is a poignant example of what nationalization does to companies and industries. They simply bog down in eventual corruption and massive inefficien
by spaginal 7y ago
No, Venezuela is a poignant example of what nationalization does to companies and industries. They simply bog down in eventual corruption and massive inefficiency to the point of stopping or limping along.
The counter opposite example is China and their industries, but that implies an even worse kind of relationship that greatly exploits people and their labor.
- jay_kyburz 7y agoI think we have have something between with a good, independent corruption watchdog.
- tomp 7y agoYeah, "nationalization" is ambiguous ... I think in this case, it's not nationalization as in "stealing" like Saudi Arabia nationalized Aramco or what happened in Venezuela, but as in "rescuing" after a bancrupcy (instead of "bailing out" - giving loans - i.e. rewarding investors into failed companies with really cheap credit).
- Dahoon 7y agoThe electricity providers in Denmark is a better example. All money stays in the company so no one gets rich. They also provide some of the best internet in the world.
- jacquesm 7y agoYou really can not compare Venezuela and France like this. I love both countries but they are worlds - ok, continents - apart in how they are governed and to what degree corruption is prevalent.
- netsharc 7y agoOP's argument is so cheap... "Nationalization failed in this corrupt country, therefore nationalization is terrible!". It's like saying Ford are shit cars after a drunk driver crashes one..