You may or may not remember this story, from just a little while back. I read about this story in the June 16, 2025, edition of The New York Times. The story was headlined as follows, in the hardcopy version of The Times that I read that morning: "The Details In The Sale Of U.S. Steel." Online, the headline was different, and a bit more explanatory: "‘Golden Share’ in U.S. Steel Gives Trump Extraordinary Control."
Having first opposed a proposal by Japan's Nippon Steel to take over U.S. Steel, our current president ended up approving such a takeover, but only on one condition. The deal had to provide the United States government (in the person of our president, of course) with a so-called "Golden Share," which gives the government an "extraordinary amount of influence over a U.S. company." Here is how Wikipedia explains this term (emphasis added):
In business and finance, a golden share is a type of share of stock that lets its owner outvote all other shareholders in certain circumstances. Golden shares often belong to the government when a government-owned company is undergoing the process of privatization and transformation into a stock-company.
We tend to think of the United States as a "capitalist" country. There are different opinions on whether or not this is a good thing, but that we live in a "capitalist" system has pretty much been accepted as how things are. Again, there are different opinions on whether "capitalism" is really the best way for a nation to organize itself. To repair to Wikipedia, one more time, here is the definition of "capitalism" that this online encylopedia provides:
Capitalism is an economic system based on the private ownership of the means of production and their use for the purpose of obtaining profit (emphasis added).
For good or ill, it appears that our current president has gotten involved in what was first proposed as a private market transaction, to ensure that the "government," not private owners, will have a decisive say on how U.S. Steel is operated. Again, some might think that this is a kind of "socialism," and those who have a positive view of "socialism" might conclude that what our current president has done is a very good thing. Think about it, though!
Haven't we had some experience with "National Socialism"?
And wasn't that, really, a truly BAD experience? Just in case this is all escaping you, click the link above and you will find that the Encyclopedia Britannica discusses "National Socialism" in its article on the "Nazi Party."
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