With the government now having spent over $800 billion in less than a year shoring up tottering financial companies that had become little more than casinos (and rigged ones at that), America is looking increasingly like China, a country where the state has been gradually getting out of the business of directly owning companies.
The essential point of commonality is that big enterprises—especially banking enterprises—are being allowed to operate as fail-proof yet operationally opaque adjuncts of the state.
So much for the free market, which now only applies to small businesses. In America, as in China, individuals are left to sink or swim, and private property is only private as long as the government, or some well-connected developer, doesn’t want it.
Both governments are using massive computer systems (made in America) to monitor the Internet
Another point of convergence is the concentration of power in a secretive executive body.
Friday, September 19, 2008
"Communist" China and "free market" USA: Separated at birth?
Posted by Thom Foolery at 10:01 AM