An approach long criticized as inefficient is being adopted by the U.S. and its allies to directly fund critical sectors such as semiconductors. One spur is the security gap exposed by the pandemic.
Yeah, the whole free market thing is just propaganda in practice. US regularly subsidizes their industries, and manipulates the market during economic downturns.
“Together, the 500 corporations on this year’s list generated $13.8 trillion in revenue, or some two-thirds of the U.S. economy.” taken from here.
I think you are totally right on this. 500 firms doing two thirds of the economy sounds pretty centralised to me, and that is even before one would consider the ownership of the companies, which probably reduces the circle of responsibility / influence even further.
There was a great interview with Isabella Weber on a recent “The Dig” episode, where she tells the story of how WW2 price controls were easy to establish in the US, since the majority of the economy was run by such a small number of firms. “It is easy to fix prices that are already fixed.”
Sadly, the purpose of the controlled economy isn’t for the wealth of the many…
Yeah, the whole free market thing is just propaganda in practice. US regularly subsidizes their industries, and manipulates the market during economic downturns.
“Together, the 500 corporations on this year’s list generated $13.8 trillion in revenue, or some two-thirds of the U.S. economy.” taken from here.
I think you are totally right on this. 500 firms doing two thirds of the economy sounds pretty centralised to me, and that is even before one would consider the ownership of the companies, which probably reduces the circle of responsibility / influence even further.
There was a great interview with Isabella Weber on a recent “The Dig” episode, where she tells the story of how WW2 price controls were easy to establish in the US, since the majority of the economy was run by such a small number of firms. “It is easy to fix prices that are already fixed.”
Sadly, the purpose of the controlled economy isn’t for the wealth of the many…
It’s basically capital concentration that Marx and Lenin talk about.