davel [he/him]

Pronouns he/him
Datetime Format RFC 3339
Country Union of Turtle Island Socialist Republics
  • 49 Posts
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Joined 1 year ago
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Cake day: June 27th, 2023

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  • there is also capitalism in state industries when they are run for profit

    Are any of the state run industries actually run for profit? Because if so, I wonder why, because I can think of no reason why they’d need to make a profit. The Chinese state can and does print as much of its sovereign fiat money as it pleases. They might run some things “for profit” as a form of taxation. The purpose of taxation at the sovereign state level is not to accumulate money but to destroy money, removing it from the economy.

    I never really thought about what if any foreign currency-denominated profits the Chinese state might be trying to make. I guess I just assumed that all state industry is for domestic use.