If a company is going to go bankrupt that is critical to the economy Many

If a company is going to go bankrupt that is critical

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If a company is going to go bankrupt that is critical to the economy Many countries in the middle east nationalize their oil industry (OPEC) - Saudi arabia, kuate-- countries that 100 years ago were impoverished bc places outside controlled their oil and would only pay them a little so they nationalized. - Russia-- 100 years ago oil was in private hands until communist revolution. And when ur communist u have to nationalize everything, - when that happened the gov owned and controlled industry, but then soviet union collapsed. They then privatized it for decades - Then a decade later, putin came to office and realized how much oil was and re- nationalized **Privatization is the current trend mostly due to shifting economic systems** Why? It’s more efficient China shifting to capitalism→ privatization Socialist india, had a lot of poor people to attempted to run everything but had given it up and now privatization Governments can make way more by just taxing the private industries who actually are specialized in the product or service Privatization has also happened bc: Big corps have gotten really big. They have a lot of
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  • Fall '18
  • JohnBoyer
  • Capitalism, Privatization, Nationalization, Social programs, Nationalism vs Privatization

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