Econ Quiz #2 - Econ Quiz#2 Nationalization vs Privatization Video o The state\/govt needs to have some money to run the govt to provide services such as

Econ Quiz #2 - Econ Quiz#2 Nationalization vs Privatization...

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Econ Quiz #2 Nationalization vs. Privatization Video o The state/gov’t needs to have some money to run the gov’t, to provide services, such as health care, military, roads, etc. o How does a government make money? Taxes Income tax Sales tax Control resources/businesses Gov’t controls business or industry so when revenue is made it is going into the gov’t account o Nationalization: when a state physically and literally takes over a resource or an industry from private individuals, and takes it out of the private sector and makes a state business. President of Venezula Hugo Chavez, nationalization king Nationalized oil, seized it U.S. froze all Venezuelan assets in U.S. and is suing Venezuela Liberal left view: support it Conservative right view: don’t support it
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  • Fall '08
  • JDBOYER
  • Economics, Nationalization, Liberal left view, Venezula Hugo Chavez

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