Trump goes socialist

Tyler Cowan writes:

Consider, most prominently, Donald Trump’s recent announcement that the federal government is taking a 10 percent share in Intel (worth some $8.9 billion dollars). Ten percent makes the U.S. government the single biggest shareholder in the company.

We are used to criticizing China—and rightly so—for its state-owned enterprises. But there can be no other way to describe this new arrangement for the United States.

Imagine the meltdown the Republican Party would have had, if Barack Obama had done this?

This won’t be the last government takeover—or at least that’s what Trump is promising. Trump says he wants to do more of this with other companies, with TSMC, Micron, and Samsung as other potential targets

Guess who is in favour:

Given that this is a blend of socialism and corporate statism, it should come as no surprise that Bernie Sanders has endorsed Trump’s Intel decision.

I miss the good old days when Republicans supported free trade and the private sector.