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On State, Economics, People, and Myths  

The State only has legitimacy and effectiveness when the people consent to it. The best-known practice for that sake is democracy.

Everything is subject to the consent of the governed. The economy can't escape that.

The State should not impose upon the governed people any specific economic model. Instead, it should educate on the pros and cons of each model and practice and let people decide. The State should intervene in the economy only if people want it to.

The State can act as an economic agent - a supplier or consumer.

It is legitimate for the State to act as a supplier, and, many times, this is the only way to protect social well-being. There shouldn't exist any prejudice on such. The State can provide any service, such as healthcare. In that regard, State is a democratic supplier.

State consistency is essential in all matters, including economics. Suppose the State doesn't interfere with a bank. The State doesn't distribute banks' wealth or control interest rates. Then the State should also not intervene to save the bank from bankruptcy. If it does, it should also protect all citizens through the economy. Such a State must redistribute bank wealth and control interest rates.

Private economic agents can be efficient. The people working for a private company can work for State if incentivized. The State is not less efficient than a private company unless "it wants" to be.

If the State buys equity to save a bank's risking bankruptcy, it should never sell with losses. In such a situation, the State should sell without losing money or keep it to recover the investment.

The State should, by all means, prevent losing sovereignty to external creditors. It must thus avoid borrowing money from external entities.
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– develop their own political philosophy out of various ideas,
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