Environmental Engineering Reference
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evidence demonstrates, is a contingent and situated historical process. The 'before' and
'after' approach risks obscuring the complex and accumulative political processes that
have culminated in the current 'Left Turn' era and that is characterised by augmented
state power. In fact, the process of nationalisation can be seen as a perfectly rational
strategy that should be implemented, and often is implemented independently of polit-
ical leanings, when the state is capturing only a fraction of the revenues generated by
resource extraction (Berrios et al. 2011). A theory of nationalisation would thus first
need to focus as much on explanations of continuities as it does on breakages in histor-
ical patterns. Secondly, it always has to be seen in close relation to the political project
that actually motivates the nationalisation process, assuming, according to Polanyi,
that economic structures must always be embedded in broader societal structures.
Doing so necessitates a move beyond simplistic arguments that 'nothing has changed'
or 'these are old wines in new bottles', and instead grappling with the specificities of
potential forms of political and economic control over nationalised industries and the
related political or transformation process.
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