State Capitalism in the U.S.

I have written often on the subject of state capitalism and how the Obama administration has been advancing along its perilous path.

Along this subject line, I suggest the book, “The End of the Free Market: Who Wins the War Between States and Corporations, by Ian Bremmer (Portfolio, 2010).

Bremmer says that state capitalism, "is a system in which the state dominates markets primarily for political gain." He discusses state-owned corporations in key industries such as natural resources and defense. He shows how sovereign wealth funds in the hands of those with suspect principles, enables state capitalism among autocratic states, to reap the benefits of capitalism, while maintaining a grip on limited political freedom.

I would also suggest all Americans read up on the rise of Benito Mussolini in Italy. It is a lesson for those on the Left.

All Americans ought to mull over the consequences of state or crony capitalism.