Vitalik Buterin pfp
Vitalik Buterin
@vitalik.eth
Is there a name for the type of government where the government pursues consumer protection, antitrust, etc policy by directly running one competitor in every important industry, instead of making rules for every participant?
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✳️ dcposch on daimo pfp
✳️ dcposch on daimo
@dcposch.eth
in healthcare they call it the public option
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Venkatesh Rao ☀️ pfp
Venkatesh Rao ☀️
@vgr
Why would you expect this to work? State-run enterprises are not exactly great vehicles for creating competitive pressure
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Minh Do pfp
Minh Do
@minh
Is the idea here that the government forces the private industry to compete with more integrity?
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phil pfp
phil
@phil
Related: this excellent piece from Matt Levine “There’s a Money Stuff for that” is the new “Simpsons did it” https://www.bloomberg.com/news/newsletters/2020-07-23/money-stuff-you-don-t-need-profits-anymore
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Colin Johnson 💭 pfp
Colin Johnson 💭
@cojo.eth
@survey should the government create a competitive entity in some industries?
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J. Valeska 🦊🎩🫂 pfp
J. Valeska 🦊🎩🫂
@j-valeska
I would recommend you this book: The great transformation by Karl Polanyi. Maybe it is not fully related but a great one book about political economy.. it also shows how 0% state intervention leads to disaster...
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J. Valeska 🦊🎩🫂 pfp
J. Valeska 🦊🎩🫂
@j-valeska
Spanish electric company was one of this kind... some europeans countries still have theirs under the control of the governments or mixed ones. Another think is that every system or production mode is always a subset of different modes. This mean that there are major systems and subsystems
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J. Valeska 🦊🎩🫂 pfp
J. Valeska 🦊🎩🫂
@j-valeska
It would be a kind of state capitalism.
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Sid Ravikumar pfp
Sid Ravikumar
@sidravi
The closest term I can think of is Market Interventionism. But a good term could be Competitive State Capitalism or Public Private Competition Model.
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Marius Scurtescu pfp
Marius Scurtescu
@marius
The government run competitor would have a huge advantage. Looking at the amount of lobbying, corruption and industry capture an impartial government looks more and more like a daydream.
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Tushar Soni pfp
Tushar Soni
@tusharsoni.eth
India tends to do both - competitor + rules. Off the top of my head, there are/have been gov competitors in oil, telecom, air travel, mining. This is in addition to a healthy competitive landscape
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Nico Gallardo 🍄 pfp
Nico Gallardo 🍄
@nicnode
neoliberalism? lol
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vrypan |--o--| pfp
vrypan |--o--|
@vrypan.eth
Rainbow Unicorn, imho
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padpad pfp
padpad
@padpad
https://en.m.wikipedia.org/wiki/State_capitalism
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1982.eth 8️⃣2️⃣ pfp
1982.eth 8️⃣2️⃣
@1982
had no idea, so asked LLaMa: There isn't a specific name for the type of government you described [...] The approach you mentioned, where the government runs one competitor in every important industry, is sometimes referred to as a "public enterprise" or "state-owned enterprise" model.
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aferg pfp
aferg
@aaronrferguson.eth
Not sure, but tbh that sounds like an efficiency nightmare. I’d rather see governments rely less on private sector for things that make far more sense being under a ministry umbrella. For example - infrastructure construction and road repair. No incentive for quality roads if pvt company gets the annual contract
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William Mougayar pfp
William Mougayar
@wmougayar
2/2 Good example is the LCBO that runs the industry, creates rules for it & lets a tiny bit of artificial competition under its own rules, resulting in an illusion of openness, but where the consumer ends up paying the price financially & gets poor choices. So you end up with the worst system.
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William Mougayar pfp
William Mougayar
@wmougayar
The devil is in the details. It can be run in the name of consumer protection etc but if there are warped aspects in all of this & includes rules too, you get a pretty bad situation. 1/2
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Arun Mikael Mehta pfp
Arun Mikael Mehta
@arun02139
China. They have a government mandate to take a 1% minimum stake in any company if they choose (giving them something like a board seat with a lot of power) and use this as a legal cudgel to control their behavior. I don't think it would work for a government to directly launch competitors but... maybe it can work!!
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