"That consensus has been eroding for years, and finally, the dam has broken: The US government has become a shareholder in nearly a dozen companies over the past several months, and the list is growing. It's moved the economy into a much more interventionist - and unfamiliar, territory. The machine is still turning, but more hands are tinkering with the gears, including, most importantly, the president's."
"It has invested in several critical minerals firms, including MP Materials, Lithium Americas, and Trilogy Metals, as well as in Westinghouse, a nuclear energy company. In June, the administration acquired a "golden share" in US Steel in exchange for approving Japanese company Nippon Steel's acquisition of the company - it gives the government veto-like power over decisions such as shifting jobs outside the US and shuttering plants."
The laissez-faire consensus in American capitalism has eroded as the federal government has taken equity stakes in multiple private firms, signaling a shift toward active intervention. The US acquired nearly a 10% stake in Intel for $8.9 billion to bolster the semiconductor industry and invested in critical-minerals companies such as MP Materials, Lithium Americas, and Trilogy Metals, along with nuclear firm Westinghouse. The administration secured a golden share in US Steel that grants veto-like authority over offshoring and plant closures. The president's office is exerting greater influence over economic decisions, resembling state-led models used abroad.
Read at Business Insider
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