International Man: The US government recently took a 15% stake in MP Materials and a 10% stake in Intel to counter China’s dominance in rare earth elements and revive the domestic semiconductor industry.
Are these national security necessities, or a fundamental break from free-market capitalism?
Doug Casey: First, whenever you hear the term “national security,” rest assured, some grifter is selling you on a fraud.
It’s natural for the State, like all living entities, to want to grow. The problem is that the State has coercive power, unlike other entities in society. Force and coercion are antithetical to free market capitalism. Worse than that…
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