If you dont want to provide a loan, fine. I dont see how you justify seizing the company.
Imagine asking the bank for a loan and they say "no, and we are also taking your car".
In those cases, the economy and society you want to externalises losses onto has every right to negotiate something in return. We are not in the business of just forgiving multi billion debts.
>Not loans, not bail outs. Confiscate and figure out how to wind them down in a way that benefits the taxpayers.
Some people find authoritarian despotism attractive as long as it targets their perceived enemies
It's not that simple. For instance: a prison sentence is "authoritarian despotism" from the perspective of a murderer subject to it (or his apologists).
Most on the left would consider it authoritarian despotism if Trump started "Confiscating" companies. Most on the right would consider it the same if Biden or whomever did the same.
In general, the US has strong opposition to the state unilaterally confiscating companies, and it is the kind of thing seen in Nazi Germany, revolutionary Cuba and Iran, or the Islamic state.
The last time the US government tried this was steel mills under Truman in 1952, and that was with compensation and struck down by the SCOTUS.
Eh. I disagree. It really depends on the company, the why, and what's done with it afterwards.
If the other party nationalized the big frontier labs or AI data center operators, with the rationale that AI is just too disruptive to privatize the gains and/or the companies are acting recklessly, I wouldn't consider it "authoritarian despotism," and I don't think many others would either: those companies are unpopular across the political spectrum.
nobody said that was the reason they were bad. that's a dumb interpretation.
The point is that seizing companies simply because you have the army and popular support to do so indicates that the government has abandoned respect for law, rights, process, and reason.
It is precisely the authoritarian behavior that defines an authoritarian regime - Taking companies or people with flimsy pretext because they can get away with it. Citizens who cheer and hope for such things are cheering for populist law of the jungle.
If someone is genuinely concerned about safety or disruption, there are 101 legal and boring options the government can take. Those just dont stimulate the the same petty emotions.
Don't ask for a loan if you don't want a loan.
I dont see how anyone extends that to the claim us government should forcibly be taking over companies.
> That will make a lot of businesses focus on success here and not somewhere else.
You have a weird definition of theft. We're talking about nationalizing them instead of handing their shareholders a bunch of free money to bail them out. Not getting free money is theft now?
But, more broadly: there's more to the social contract than private property rights. And it's really hard to bring myself to care too much about the private property rights of entities who have shown themselves to not be very respectful of that contract.