Sen. Bernie Sanders called JPMorgan Chase CEO Jamie Dimon the “biggest corporate socialist in America today” in a recent ad.
He may have a point – beyond what he intended.
With his Dimon ad, Sanders is referring specifically to the bailouts JPMorgan and other banks took from the government during the 2008 financial crisis. But accepting government bailouts and corporate welfare is not the only way I believe American companies behave like closet socialists despite their professed love of free markets.
In reality, most big U.S. companies operate internally in ways Karl Marx would applaud as remarkably close to socialist-style central planning. Not only that, corporate America has arguably become a laboratory of innovation in socialist governance, as I
— source theconversation.com | Paul Adler | Feb 7, 2020