President Biden says in a statement to be released Thursday that the U.S. needs to “maintain strong American steel companies powered by American steel workers."
Certain elements of rail shipping were nationalized under Conrail when the railroads were going under in the 70s. Basically they were losing money at that point and were net liabilities so the government bought them out and operated them until they were profitable, at which point they were privatized and sold off.
U.S will nationalize industries if it follows the golden rule of capitalism, socialize losses and privatize profits.
Then why isn’t it nationalized?
We have never nationalized US Industry. The only one I can think of is air traffic controllers. Thanks, Reagan.
Certain elements of rail shipping were nationalized under Conrail when the railroads were going under in the 70s. Basically they were losing money at that point and were net liabilities so the government bought them out and operated them until they were profitable, at which point they were privatized and sold off.
U.S will nationalize industries if it follows the golden rule of capitalism, socialize losses and privatize profits.
Damn sounds like the free market these neolibs will (literally) kill for is working as intended.