"Stuff's really broken, we'd better prop it up!" Cover fire for yet more government action

Linked to me earlier, this is, on the surface, an explanation of why “big business” and “big government” should collaborate to solve problems - but, at least from my perspective, it’s more a report on just how broken and fragile things have gotten, and how utterly risk-adverse big companies have mostly become.

The nine months of the pandemic have shown that in a modern state, capitalism can save the day — but only when the government exercises its power to guide the economy and act as the ultimate absorber of risk. The lesson of Covid capitalism is that big business needs big government, and vice versa.

The example is raised of Pfizer, who had guaranteed sales of nearly $2B of a vaccine they had yet to produce to the US government, yet, with a gigantic balance sheet, taking risk on R&D is something companies generally are, at least in theory, supposed to do - not wait for an order and then start trying to fill it.

The article then wanders off into a defense of government bailing out of JIT supply chains, without ever stopping to ask how we’ve let supply chains get so fragile that there’s only one supplier of automotive widgets of a particular point in the first place.

And I’ll argue that the right path forward is a deliberate search for inefficiency - for more local production, and not a “Well, this is the most profitable way if absolutely nothing ever goes wrong!” sort of thinking about problems.

Buckminster Fuller called it imo, during the cold war everyone got convinced that USA = Team Capitalism, diametrically opposed in every way to Soviet Team Socialism.
We are blind to the amount of public funding certain large corporations and industries receive and how much central planning in the form of bureaucrats’ and lobbyists’ policies pick winners and losers in the economy.

Every well paying job I’ve had has been for the government, an operation entirely funded by government grants, or that derived a significant amount of income by being able to maintain compliance sell to government in some form.

But nominally usa is land of free market capitalism, is not, and must not be come, socialist. Right?

Heh… or the opposite - the thousands of small businesses that are getting thrown under the bus due to distancing orders.

Yeah? You want to run a nice eatery with skilled workers? Yeah, good luck.