Tuesday, December 9, 2008

Government stakes in automakers?

This is great. America is turning into the new Sweden.

I've lived in Sweden for three years. In that time the government has sold a number of state-owned companies, including Vin & Sprit, the maker of Absolute Vodka. The argument by the "free market rules all" camp was that government should have no stake in large companies because they were inefficient at running them and a waste of tax payer money.

This privatization frenzy has been taking place for a number of years in many countries. It is surely one of America's greatest legacies.

But privatization is so 2007. The opposite is happening in America today. First banks, now maybe automakers. I'm starting to like this new American socialism. Maybe it's time to move home.

Nah, not yet. I think I'll wait until Ronald McDonald becomes a federal employee.

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