Source: Ludwig von Mises Institute
by William L Anderson
“As America’s first reality-show president, Donald Trump wants people to think he is breaking new ground and transforming America for the better. Stepping where no president before has gone, Trump has directed the US Commerce Department to take equity positions in 30 American firms, which clearly is controversial. Although the US is new to this policy, it isn’t the first country to do this, as France, Norway, Germany, China, and others have already seen governments purchase partial ownership in private firms. Supporters of this practice claim that any government infusion of cash into these businesses will expand the economy’s capital base, but there are plenty of reasons to oppose this practice, which economist Randall Holcomb has labeled ‘political capitalism.'” (08/06/26)