On state ownership of private assets, Chairman Greenspan is so fearful of it that he has overstepped his bounds and thrown behind tax reform to prevent the building up of governement surpluses which would have to be invested in private markets. So with Greenspan having spoken, substantial reductions in capital gains and estate taxes can now be expected. The US ruling class surely has a knee jerk, purely ideological reaction against any kind of state ownership--or so it seems to me. Yours, Rakesh
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