Contra Krugman

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James Surowiecki is troubled by the "nationalization is easy" crowd:

I think that as the “nationalize now” meme has taken hold in the blogosphere, people are talking about nationalization “awfully casually.” One way this manifests itself is in the argument that the only reason people are skeptical of nationalization is because it’s “un-American,” when, in fact, I think people are skeptical of it for two big reasons:

1) Two years of financial crisis does not invalidate the general principle that private enterprise is typically better at efficiently allocating resources than government; and

2) the idea of the state literally determining which companies and individuals do or don’t get credit is, even to a non-libertarian, at least a little troubling.

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