- Joined
- Apr 6, 2019
- Messages
- 2,395
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- Location
- Ireland
- Gender
- Male
- Political Leaning
- Centrist
A state bank would be the ultimate unification of both socialism and capitalism. A state bank would be able to give out loans to commercial enterprises that would help to diversify the job market for poor people. A state bank could limit loans to commercial enterprises rather than personal income loans in order to reduce the threat of loan defaults from poor people. Yet a state loan to private entrepreneur merely has to break even in order to provide a more lively economy for poor people. Communism rebelled not only against low wages but also the repetitive nature of certain working class jobs.
Just imagine how much happier and more interested a barman would be working as railway operator in a refunded railway line even if the wages were the same:
"The West Clare Railway (WCR) originally operated in County Clare, Ireland, between 1887 and 1961... Starting in the mid-1990s, efforts were made by a preservation society to recreate part of the original route." Wiki
A post office is state owned but incapable of lending the large amounts of capital needed to start a business:
"With an An Post Money personal loan you can borrow between €5,000 and €75,000 and set your repayment period up to 7 years."
The Republic of Ireland didn't want to take responsibility for job creation by owning its own bank and instead financed existing private banks indirectly. This is where socialism can be contradictory by supporting private markets over state-owned businesses. The idea that the working class cannot be trusted with wealth redistribution forgets that very few of the working class ever receive income bonuses directly from the government. Unless unemployed people constitute at least 40% of the population then it's very unlikely that they'd rob the rich year after year. The major benefit the working class receives from government are public services from state like education and healthcare rather than wealth redistribution. A nation with a capitalist mixed economy that promotes solidarity with high taxes isn't fully honest in helping the spirituality of poor people if there's no real way for poor people without collateral to become entrepreneurs.
"Since recession hit in mid-2008 and the government stepped in to save the banking system on 30 September of that year through a blanket guarantee covering customer deposits and banks’ own borrowings to a total of €440 billion, the severity of Ireland’s crisis has grown continuously worse... While the guarantee avoided the collapse of any Irish bank, neither did it resolve the banking crisis. Indeed, it has been described as a ‘malignant colossus over the entire scene’ which ‘served to prop up the banks but it aligned the fortunes of the State with their fate’."
https://www.realinstitutoelcano.org...tate-analysing-irelands-financial-crisis-ari/
Just imagine how much happier and more interested a barman would be working as railway operator in a refunded railway line even if the wages were the same:
"The West Clare Railway (WCR) originally operated in County Clare, Ireland, between 1887 and 1961... Starting in the mid-1990s, efforts were made by a preservation society to recreate part of the original route." Wiki
A post office is state owned but incapable of lending the large amounts of capital needed to start a business:
"With an An Post Money personal loan you can borrow between €5,000 and €75,000 and set your repayment period up to 7 years."
The Republic of Ireland didn't want to take responsibility for job creation by owning its own bank and instead financed existing private banks indirectly. This is where socialism can be contradictory by supporting private markets over state-owned businesses. The idea that the working class cannot be trusted with wealth redistribution forgets that very few of the working class ever receive income bonuses directly from the government. Unless unemployed people constitute at least 40% of the population then it's very unlikely that they'd rob the rich year after year. The major benefit the working class receives from government are public services from state like education and healthcare rather than wealth redistribution. A nation with a capitalist mixed economy that promotes solidarity with high taxes isn't fully honest in helping the spirituality of poor people if there's no real way for poor people without collateral to become entrepreneurs.
"Since recession hit in mid-2008 and the government stepped in to save the banking system on 30 September of that year through a blanket guarantee covering customer deposits and banks’ own borrowings to a total of €440 billion, the severity of Ireland’s crisis has grown continuously worse... While the guarantee avoided the collapse of any Irish bank, neither did it resolve the banking crisis. Indeed, it has been described as a ‘malignant colossus over the entire scene’ which ‘served to prop up the banks but it aligned the fortunes of the State with their fate’."
https://www.realinstitutoelcano.org...tate-analysing-irelands-financial-crisis-ari/