Lemon socialism

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Lemon socialism (English lemon socialism ) is a particularly in the USA used negative term for government support and rescue operations against private companies that are on the verge of bankruptcy .

It is not a modification of socialism per se , but interventions in the functioning of capitalism in such a way as not to let bankrupt companies and their unsuitable goods ( Monday pieces , golden lemons ) perish, but to preserve them artificially with taxes and others, to compete with competitive market participants. The 2008 Emergency Economic Stabilization Act in the USA is considered a prime example of lemon socialism. In a comment for the International Herald Tribune, Paul Krugman expressed the view: "What we have right now is not private property, this is lemon socialism: banks are turned upside down, but taxpayers bear the risk." The way out of lemon socialism A system in which the banks stand for profits and losses can only be achieved through nationalization.

The author and politician Mark J. Green considers himself the creator of the expression. However, idioms like “socialism for the rich and capitalism for the poor” go back to the 1960s. It was already mentioned in 1834 in connection with the Second Bank of the United States, which was closed by Andrew Jackson . Otherwise profits would have been privatized and losses communitized .

In Icelandic, “Sósíalismi andskotans”, i. H. Devil socialism, or "Pilsfaldakapítalismi" spoken, pilsfaldur means skirt hem. The expression alludes to children who want to hide under their mother's skirt after an iniquity.

See also

Individual evidence

  1. ↑ George F. Will: Bailout on Wheels. The Washington Post, September 29, 2008, accessed March 9, 2011 .
  2. ^ Jonathon Green : Newspeak: A Dictionary of Jargon . Routledge, 1984, ISBN 0-7100-9685-2 , p. 142.
  3. ↑ Randy Shaw: The Return of "Lemon" Socialism. Beyond Chron, September 18, 2008, accessed March 9, 2011 .
  4. ↑ Timothy Noah : GOP, RIP? Nearly three decades of Republican dominance may be coming to an end . Slate. September 30, 2008. Retrieved March 9, 2011.
  5. ^ The Bush Crisis Plan: Greatest transfer of wealth in world history . Pravda. September 24, 2008. Retrieved March 9, 2011.
  6. ^ "Zombies in Lemon Socialism" , Handelsblatt dated February 23, 2009.
  7. ↑ Mark J. Green : Deciding On Utilities: Public or Private ?; Con Ed Has Taken a Step That Makes It a Little of Each . The New York Times . May 26, 1974. Retrieved March 9, 2011.
  8. ^ Paul Krugman : Lemon credit . The New York Times . February 2, 2009. Retrieved March 9, 2011.
  9. ^ Crisis 2008 , by Thorvaldur Gylfason