The Intelligence of the Intel Equity Stake
The White House’s sudden decision to take a ten percent stake in Intel startled some observers as a surprising lurch to government overreach by a Republican administration. In truth, it looks less like a lurch and more like a pilot program for an idea economic nationalists have been refining for years .
Julius Krein, editor of American Affairs , has been arguing that America’s capital markets are structurally incapable of funding the industries the nation actually needs . Last week’s deal gave him a live-fire case study.
For decades, U.S. corporate strategy has been to maximize shareholder value , not…
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