The US had for most purposes a system of quasi-owned state enterprises after WW2. The US gov had zero equity, but was a partner providing research, funding, and diplomatic backing. The list included companies like IBM, GE, Exxon, AT&T/Bell Labs, Boeing, etc. All these companies had large R&D departments financed directly or indirectly by the gov.
Most of this was dismantled after the Raegan era, when they decided to move all production to other countries with the goal of running everything from Wall Street, through the power of dollar-based financialization. They wanted to control everybody else as modern colonies, where developing countries would perform the role of workers and the US the role of a business owner. It just happened that some countries never really wanted to play by these rules, that's why the US is threatening to dismantle the globalization system.
Seems like a no brainer in the current environment though right? At least temporarily in sectors underserved by the market but still crucial to the national interest? Can always privatise them again down the track if they're ideologically unacceptable for whatever reason?
coliveira|2 years ago
Most of this was dismantled after the Raegan era, when they decided to move all production to other countries with the goal of running everything from Wall Street, through the power of dollar-based financialization. They wanted to control everybody else as modern colonies, where developing countries would perform the role of workers and the US the role of a business owner. It just happened that some countries never really wanted to play by these rules, that's why the US is threatening to dismantle the globalization system.
Rooki|2 years ago