Democrats are freaking out over the federal government taking a 10% equity stake in Intel, accusing Donald Trump of “socialism.” But the purchase of these nonvoting shares does not give the government any meaningful control over the company.
The strict definition of socialism is worker ownership (and control) of the means of production. I don’t see any such worker ownership or control.
The government taking ownership shares of private enterprises is a limited form of state capitalism. It’s not new and is pretty widespread in the developed world. That doesn’t make this particular case a good idea, and the potential is high for corruption and conflict of interest in any such arrangements.
The strict definition of socialism is worker ownership (and control) of the means of production. I don’t see any such worker ownership or control.
The government taking ownership shares of private enterprises is a limited form of state capitalism. It’s not new and is pretty widespread in the developed world. That doesn’t make this particular case a good idea, and the potential is high for corruption and conflict of interest in any such arrangements.