What is it about?
The 2008 global crisis brought about curiously inconsistent changes in state ownership: asset sales by governments and purchases of private stocks increased sharply and simultaneously. The paper examines why both now seem appropriate tools for crisis management in Europe and in the USA. It also estimates the scale of changes after 2008.
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Why is it important?
The paper argues that the rapid alternation, including parallel applications and mixed, ‘silent’ forms of nationalization and privatization, reflects ambiguity in political, theoretical and popular views. The uncertainty far exceeds ownership issues to include the role of the state in general, revealing fragmentation of measures in each direction: neither nationalization nor privatization has been based on any integrated, defined paradigm of economic policy.
Perspectives
The parallel appearance of nationalizations and privatizations on a large scale is historically a unique phenomenon that deserve attention.
Eva Voszka
University of Szeged
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This page is a summary of: NATIONALIZATION OR PRIVATIZATION? THE FRAGMENTATION OF THE MAINSTREAM, Annals of Public and Cooperative Economics, August 2016, Wiley,
DOI: 10.1111/apce.12140.
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