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Some might say this surgical approach is prone to political "manipulation," with politicians fiddling with rates and regional variances. Although imho all Capital allocations are political, it's just a matter of who has effective control over the political decision to allocate, and to what degree. And measures to increase the degree to which representatives of the people (as opposed to oligarchs) have control over this process is a good thing.

The Hun is always either at your throat or at your feet. Winston Churchill
by r------ on Wed Sep 12th, 2007 at 10:07:46 AM EST
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Some might say this surgical approach is prone to political "manipulation,"

What is not ? (prone to manipulation)

Current trend of financial and trade globalization is also a manipulation affair, with lobbies keeping a lid on some business sectors, or wiping some others. And it was largely unchecked by populations (although westerners somewhat voted "yes" with their wallets, buying invariably the imported crapware).

In any case, the devil is in the details, and having public control of the details falls back to command economies, which do not compete very well with others in expansive eras. Of course, a command economy will be better off if the current system self-organizes into a catastrophic failure.

Pierre

by Pierre on Wed Sep 12th, 2007 at 10:19:10 AM EST
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I would rate this comment a 5 if I could.

The Hun is always either at your throat or at your feet. Winston Churchill
by r------ on Wed Sep 12th, 2007 at 10:46:49 AM EST
[ Parent ]

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