Based on a debate I just had with a family member, I wanted to comment on the increasing nationalisation of industries in South America, such as Argentina's nationalisation of oil giant YPF, and Bolivia's nationalisation of the local unit of Red Electrica. This has been an increasing trend in South America, a major player being Venezuela under Hugo Chavez. I am not a proponent of state socialism, I believe there should be minimal government control and the workers should own production in a total free market, BUT I do believe that state socialism (totally transparent and properly managed) is a satisfactory way to transition into my vision of free markets.
And the argument that state nationalisation of industries is somehow a move to control the populace or bad intentioned can be argued by looking to Scandinavia. In Norway, the state owns key industries such as oil, hydroelectricity, aluminium production, the largest Norwegian bank and telecommunication provider, and is arguably the best managed country in the world. This can easily be seen in their Human Development Index, which is the highest in the world. There is also significant state ownership in key areas of the Finnish economy. If handled properly with a sense of morality and non-alignment, socialism works.
And the argument that state nationalisation of industries is somehow a move to control the populace or bad intentioned can be argued by looking to Scandinavia. In Norway, the state owns key industries such as oil, hydroelectricity, aluminium production, the largest Norwegian bank and telecommunication provider, and is arguably the best managed country in the world. This can easily be seen in their Human Development Index, which is the highest in the world. There is also significant state ownership in key areas of the Finnish economy. If handled properly with a sense of morality and non-alignment, socialism works.
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