On Thu, Feb 18, 2016 at 1:17 PM, Marv Gandall <[email protected]> wrote:
> it would be helpful if, for example, you could specify what regulations > you would impose on the financial or energy industries -and, in particular, > why would these would be politically more capable of realization than > public ownership? > This is an interesting, but purely technocratic question. I think the following would go a long way: - Financial firms: regulate CDSes as a form of insurance and require loss reserves. Institute a Tobin tax. Bring back criminal prosecution of execs for securities law violations. Bring back usury laws for credit card rates and car loans. Reform the bankruptcy code. - Pharma: Price controls and a cap on profit rates on drugs under patent. - Energy: A carbon tax and windfall profits tax in time for the next oil price bubble. These are actually pretty close to Sanders' campaign promises I believe and these are easy to defend on technocratic grounds without having to get into arguments over socialism. -raghu.
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