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Legal Commentary

: Balkinization

Why the Bailout isn't Socialist

By Jack M. Balkin

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I've read one too many articles labeling the bailout "socialist," so I'll take a brief stab at explaining why it is not. First, some definitions that I hope are not entirely idiosyncratic. "State socialism" implies a one-party state, and is not democratic. "Democratic socialism" assumes multiple political parties and thus electoral democracy, although such a state may be "corporatist" in assuming that economic policy should be determined through bargaining among bureaucrats and organizations read more

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Full post as published by Balkinization on September 22, 2008 (boomark / email).

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