Are Subsidies Capitalist?

Source: Foundation for Economic Education
by Angelica Walker-Werth

“Most relatively capitalist countries are engaged in a massive wealth redistribution scheme: corporate subsidies. In 2015, the University of Sheffield estimated that the UK government was giving British companies £93 billion ($118 billion) in corporate subsidies each year. In 2020, companies in the agricultural industry received $46 billion in subsidies (aggregate numbers were not easily available for the United States). $8 billion went to companies that produce wind and solar energy in 2016. Countless other sectors and companies receive similar subsidies. Many consider this an example of capitalist exploitation. But is the government seizing money from hardworking taxpayers to give to business concerns really capitalism?” (04/28/22)