Tracking the Unseen Costs of "State Corporatism"

Scott Lincicome

In my latest Bloomberg column, I explore an unseen cost of the federal government’s recent and unprecedented investments in private US companies: the distortion of capital markets that have underpinned American growth and innovation for decades. As I explain, Uncle Sam’s 10 percent equity stake in chipmaker Intel has caused its share price to spike, even though the long-troubled company is facing the same operational and strategic challenges that have dogged it for years.