• Gonzalothot [none/use name]
    ·
    4 years ago

    He's just regurgitating a Chomsky talking point.

    Noam Chomsky, a libertarian socialist, applies the term state capitalism to the economy of the United States, where large enterprises that are deemed "too big to fail" receive publicly funded government bailouts that mitigate the firms' assumption of risk and undermine market laws, and where private production is largely funded by the state at public expense, but private owners reap the profits.