Washington's recent equity stakes in key corporations like Intel signal capitalism's failure rather than a shift towards socialism. While the government assumes control over critical industries, it simultaneously excludes workers from labor and decision-making roles. The stated objective is national security, but this forms part of a broader imperial strategy that intertwines military needs with corporate interests. The public funds the industrial system while remaining marginalized, illustrating a profound contradiction: social production is maintained under corporate control. As America grapples with its economic decline, the push for a more equitable structure is vital. It's time for public investment to translate into worker empowerment and community authority.
The Return of the State: How Industrial Policy Became a Weapon of Global Power
An emerging “consensus” around industrial policy masks a deeper ideological project disciplining development within the boundaries of global capital. The material reality reveals a world defined by subsidy wars, coercion, and uneven development, where state intervention is already reshaping the global economy. China stands at the center of this contradiction as a socialist-led state navigating... Continue Reading →