Socialism is when you nationalize the banks without compensation
When you compensate the banks without nationalization, I think that would be the opposite of socialism. One of the odd things at first about discussion of bailout plans was the lack of actual macro-economic suggestions: the plan in Congress is about giving money to the banks, left-wing critics have suggested giving money to home owners; individual solutions, nothing structural. But it can’t be that structural changes are unthinkable; indeed, they’re kind of obvious, given that, as far as I know, economics departments do still teach macro-economics. David Harvey:
Surely it cannot be lack of imagination. The academy, for example, is full of explorations of the imaginary. Read moreā“