An idea re: what might be next re: managed capitalism

Let’s make a distinction between the term ‘socialization’ (which has something of a leftist or progressive connotation) and ‘statification’ . . .

Trying to buoy up a flagging economy, the governments have gone into overdrive re: subsidies, bailouts, etc.

https://en.wikipedia.org/wiki/Zombie_company

One thing hyper-low interest rates accomplish is to enable a zombie company to keep repaying the interest on its debts even though it can’t repay principal.

Bonds were traditionally issued into the private market for purchase. Now many are bought up by the central banks. In Japan the latter have started to buy up private-sector equities as well as debt.

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Beyond governmental stimulus and subsidy is direct statification. The left will cheerlead it, adding that it should be accompanied by provisions for democratic control of the process. But, ever since Marx, the left has been deluded about that possibility . . . and about the idea that it could be a step along the way to socialization.

It’s an attempt to manage capitalism. But it leads to a system that is neither capitalist nor socialist. And it surely is not communitarian.