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Nationalization may produce other effects, such as reducing competition in the marketplace, which in turn reduces incentives to innovation and maintains high prices. In the short run, nationalization can provide a larger revenue stream for government but may cause that industry to falter depending on the motivations of the nationalizing party.
The phrase is sometimes related to the term class warfare, where the redistribution is alleged to counteract harm caused by high-income earners and the wealthy through means such as unfairness and discrimination. [4] Redistribution tax policy should not be confused with predistribution policies. "Predistribution" is the idea that the state ...
The Denationalisation of Money is a 1976 book by Friedrich Hayek. [1] The author advocated the establishment of competitively issued private moneys. [2] In 1978 Hayek published a revised and enlarged edition entitled Denationalisation of Money: The Argument Refined, where he speculated that rather than entertaining an unmanageable number of currencies, markets would converge on one or only a ...
State capitalism is an economic system in which the state undertakes business and commercial (i.e., for-profit) economic activity and where the means of production are nationalized as state-owned enterprises (including the processes of capital accumulation, centralized management and wage labor).
The comprehensive notion of socialization and the public ownership form of social ownership implies an end to the operation of the laws of capitalism, capital accumulation and the use of money and financial valuation in the production process, along with a restructuring of workplace-level organization. [11] [12]
Redistribution (cultural anthropology) in relation to non-market economic exchange Redistribution of income and wealth Redistributive change , theory of economic justice in U.S. law
Money is like fertilizer, not good except it be spread." [58] The rise of Communism as a political movement has partially been attributed to the distribution of wealth under capitalism in which a few lived in luxury while the masses lived in extreme poverty or deprivation.
The United States Census Bureau formally defines income as money received on a regular basis (exclusive of certain money receipts such as capital gains) before payments on personal income taxes, social security, union dues, Medicare deductions, etc. [55] By this official measure, the wealthiest families may have low income, but the value of ...