In the narrower sense, the collectivization of institutions; in the broader sense, the transfer of all financial market institutions to common ownership. – In connection with the financial crisis that followed the subprime crisis, calls for nationalization (claim for government ownership and control) of the financial sector have been heard everywhere, including in Germany. Such a measure should be appreciated if it would increase national wealth. Experience in many countries of the world, however, has shown that the reverse is true: the functioning of the financial market suffers severe losses, even to the point of complete collapse. – Many corresponding studies unanimously see the reason in the fact that, instead of performance-motivated employees, business is now determined, at best, by ponderously working civil servants who are averse to any competition, and, as a general rule, by uninformed functionaries of the party and party comrades. The “state” in the sense of a responsibly acting individual exists only in the imagination of unworldly ideologists (ideologists: visionary, quixotic, ivory-tower theorists). – See bank scolding, union bank, shitstorm, monetary authority, central.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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