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How Did American Capitalism Mutate into American Corporatism?
I truly wish these companies were genuinely private, but they are not. They are de facto state actors.
Of course in 1913, we saw the advent of a particularly egregious public-private partnership with the Federal Reserve, in which private banks merged into a unified front and agreed to service US government debt obligations in exchange for bailout guarantees. It obtained its first full trial run with the lockdowns of 2020, when tech companies and media joined in the ear-splitting propaganda campaigns to shelter in place, cancel holidays, and not visit grandma in the hospital and nursing home. The dominating force on both the national and global scene today is techno-corporatism that intrudes itself into our food, our medicine, our media, our information flows, our homes, and all the way down to the hundreds of surveillance tools that we carry around in our pockets.
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