Paul Krugman has a piece in the New York Times where he argues in favor of a mixed economy. The piece is meant to be a limited defense of public ownership and production against those who categorically argue against government enterprises.

But Krugman’s argument ends up being far too limited in my view. Due to the wonders of our financial system, public ownership could be extended to the vast majority of the economy without presenting any problems.

Here’s Krugman: