Walter Isaacson on U.S. government's stake in Intel: State capitalism is always a bad idea

State Capitalism & Government Intervention - State capitalism is viewed negatively, drawing parallels to historical mercantilist systems where the state controls major corporations, potentially harming competition [3][4] - Concerns exist that government stakes in companies, like Intel, could lead to cronyism, favoring some businesses over others, which contradicts traditional Republican principles [5] - The possibility of future administrations, regardless of party, taking similar stakes in companies raises concerns about government overreach and interference in business operations [6] Antitrust & Competition - The lawsuit between Musk and Altman highlights the ongoing debate about dominance in an industry and whether companies are unfairly leveraging their position [7][8][9] - Questions arise about whether Apple's App Store extracts excessive rent and unfairly favors certain developers, potentially stifling competition [10] - Google's bundling of Gemini search results raises concerns about anti-competitive practices, similar to historical antitrust cases like Standard Oil [13][14] Federal Reserve Independence - Maintaining the Federal Reserve's independence is crucial to prevent political influence on monetary policy, such as manipulating the money supply or interest rates [15][16] - The independence of the Fed has been upheld by Congress and the courts for over 50 years, with the Supreme Court specifically protecting it from political interference [16][17]