Econ #2 Notes - Econ#2 Notes How does a government make money o 1 Taxes o 2 Control resources\/businesses Nationalization the government of a state

Econ #2 Notes - Econ#2 Notes How does a government make...

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Econ #2 Notes How does a government make money? o 1. Taxes!!!! o 2. Control resources/businesses Nationalization- the government of a state physically and literally takes over a resource or industry from the private sector so it can become state-owned. o Liberal Left- Let the government run it all!! More money=more benefits o Conservative Right- NOOOOOO!!!!!! o Hugo Chavez- President of Venezuela nationalized the oil industry Exxon and BP (among other oil companies) were bought out by Venezuela so they could make a better profit off of their own oil o Free Market Capitalists despise nationalization, as does #America biotch o When a company gets nationalized it goes back to its home government and complains (Exxon went to complain to U.S.) o America is suing Venezuela and also froze all assets 6 months later Privatization- When a government sells off/leases the resources/industries to the private sector o Japan sold its Post Office!!!!1 wtf!!?
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  • Fall '08
  • JDBOYER
  • Capitalism, Privatization, Nationalization, Public ownership, oil industry

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