For instance, if AI corps spend billions creating models and get bailed out when they can’t recoup it, the government essentially retroactively paid for socialized AI, but without the benefits of giving it to citizens for free. I’d almost be okay with it if they did mandate giving it away for free as part of the bailout. Almost.
Yep.
Bailouts should never happen the way they do today and did for the past ~50 years.
Oops, you ran your business into the ground? The country NEEDS your business to not collapse?
Awesome! You’re now nationalised. You no longer chase the profits, rather, you purely provide said service the country needs, and the state will finance it.
No infrastructure that national security depends on, should be in private hands.
Can’t wait for Chapter 1917 bankruptcy to drop.
Socialise the losses, privatise the profits.
There’s nothing socialist about it if there is no redistribution to society. It’s just a tax that benefits the rich, like taxes paid to the lords in the past.
Exactly, its just shitty capitalism. Giving it any other name shifts the blame
Except it’s not capitalism, either. If you take capitalism at face value, if you fail as a company you fold. That’s essentially where the incentive to innovate comes from. If you don’t innovate, someone else will, and you’ll go out of business because of that competition.
Of course, reality is more complicated than that, but the point is: corporate bailouts don’t fit into any proper economic system as such.
Fair enough. I guess the way I looked at it was the capitalistic behavior was shit and failed. The government is so hellbent on forcing the capitalist system to work that they bail them out. Maybe there is another name for that, I will admit I dont have the economic vocabulary for it.
It’s trickle down socialism. Socialism for the rich corps first. And then if there is anything left it will trickle down to us. We just have to be patient.
but without the benefits of giving it to citizens for free.
Another problem is that there’s still some CEO raking in a 7 figure bonus even though it’s paid with tax money.
It’s not socialism when only a few get it. That’s called theft.
As one of the great poets of our generation said, “they want feudalism for the world at large, and socialism for the ones in charge”
but without the benefits of giving it to citizens for free
Is that what you think communism is?
I agree with this but what you said as title is flawed logically. The only resemblance is the exact opposite between debt and profit. As in, collectively loading private debt (aka bailout) sounds to me like the opposite of collective administration of public goods or state taxes (aka socialism)
If only you could get Republicans to see that.
