A Threat Worse Than Socialism?

Over the past ten years, several polling outfits have indicated an uptick in the number of Americans who say they are disillusioned with capitalism and willing to consider socialism as an alternative. This, however, isn’t the most immediate threat to American capitalism. Yes, the U.S. government controls a far larger chunk of GDP than it should, state institutions regularly intervene in every economic sector, and entitlement programs constitute the bulk of government spending. But another set of ideas that has helped inflict considerable damage on the American economy is reemerging. It is best labeled “corporatism.”