Quote:
Originally Posted by The Lying Dutchman
It could well be argued that national resources are supposed to be in the hands of the public domain rather than in the private domain where it has been in the benefit of only few. If we look at Latin america than we see that there has often been a firesale of national industries made possible by being in the hands of elites (Bolivia for example). Free trade is not a sacred principle in developing countries with reason, fair trade is what they pursue.
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Protection of supposedly infant industries can be achieved through certain subsidies and tax breaks. Nationalizing does not help in the long run -- most developed economies are trying to de-nationalize their industries for a very good reason.
Nationalization is inefficient, and ultimately hurts the low skill labour the most.