When European exploration began, Britain's more constrained crown left trade in the hands of privateers, whereas Spain favoured state control of ocean commerce.
There he promised cheap loans for farmers and lashed out at privatised utilities, but said he no longer favoured state takeovers, and that he would seek to negotiate, rather than decree, lower debt payments.
If they are favoured, state-controlled banks will provide them with cheap loans and bureaucrats will nobble their foreign competitors.
Mr Wang dismisses the suggestion that the bing tuan with its own administration, its special relations with Beijing (it reports directly to the State Council), and its dollops of central-government largesse is like a mini-state, favoured for its strategic importance.
The favoured political model, authoritarian state capitalism, has not worked and the efforts of Kazakhstan and Turkmenistan to exploit hydrocarbons have been slowed by corruption.
His enemies accuse Dr Fox of an incoherence that is typical of the right: craving a smaller state but complaining of cuts to favoured causes.
It took some searching to find a single precedent, William Jennings Bryan, a pacifist who had resigned as secretary of state in 1915 because he believed American policy favoured joining the war in Europe.
France is lucky because some of its biggest state-owned assets are utilities, now much favoured by investors.
But the French, when they took over the new state of Lebanon after the first world war, favoured the priests and their school.
Indian analysts talk of converting India's military and diplomatic momentum into backing for its favoured resolution to the Kashmir issue: permanent division of the state between India and Pakistan along the line of control.
Both for their own sake, and in the interests of world trade, the practitioners of state capitalism need to start unwinding their huge holdings in favoured companies and handing them over to private investors.
From Italy to Japan there is a host of evidence that state-controlled banks come under pressure to direct loans to favoured constituencies and to keep uncompetitive companies alive with subsidised credit (see article).
One common explanation - favoured by the coalition - is that Labour took a much too rosy view of the underlying state of the public finances in the years leading up to the crunch.
BBC: Debt and the crisis: How did governments get it so wrong?
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