State investment intermediation arises as savers flee private risk.

Evidence

It could be said that the mass of savers wants to break off any direct connection with the ensemble of private, capitalism, but that it does not refuse its confidence to the State, It wants to take part in economic activity, but through the State, which can guarantee a modest but sure return on investment. The State thus finds itself invested with a primordial function in the capitalist system, both as a company (state holdings) which concentrates the savings to be put at the disposal of private industry and activity, and as a medium and long-term investor (creation in Italy of various mortgage houses, industrial reconstruction, etc. — Antonio Gramsci, Selections from the Prison Notebooks, 1151

Categorization

• XREF: connects to: Money entrusted to frontier intermediaries often disappeared, forcing repayment in goods — Isabella L. Bird, A Lady’s Life in the Rocky Mountains, 140; Government borrowing crowds out private investment by competing for limited savings — Clara E. Mattei, The Capital Order: How Economists…, 1694; State intervention in capitalism grows from saver flight toward guaranteed returns (+1 more)
• yield-rescued: below the book’s yield-target cutoff, included anyway for connecting to: Money entrusted to frontier intermediaries often disappeared, forcing repayment in goods — Isabella L. Bird, A Lady’s Life in the Rocky Mountains, 140; Government borrowing crowds out private investment by competing for limited savings — Clara E. Mattei, The Capital Order: How Economists…, 1694; State intervention in capitalism grows from saver flight toward guaranteed returns (+1 more)

Broader Connections

• State intervention in capitalism grows from saver flight toward guaranteed returns #corroborates (0.95)
• Government borrowing crowds out private investment by competing for limited savings #complicates (0.72) — Clara E. Mattei, The Capital Order, 1694