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Ask HN: Is the $52B The Endless Frontier Act communism?

5 points by roschdal 4y ago

Ask HN: is the $52 billion 'The Endless Frontier Act' to US chipmakers communism? The US government subsidizing industry with such an overwhelming amount.

Raed667 4y ago
It is ~literally~ the opposite. This is corporate welfare. > "Socialism for the rich, capitalism for the poor" https://en.wikipedia.org/wiki/Corporate_welfare https://en.wikipedia.org/wiki/Corporate_welfare
smt88 4y ago
No. Is it communism to subsidize agriculture, fossil fuels, real estate, weapons, and all of the other industries that get enormous subsidies? Is Tesla a communist invention? It only still exists because of enormous Obama-era subsidies. The answer, of course, is "no" and also that you need to research what communism means. As a hint, one of the keys of communism is public ownership. This bill doesn't transfer private assets to government ownership.
csomar 4y ago
It is. But so is giving tax breaks to "clean energy" and stuff like that. Usually, the argument is just too nice and people buy (green energy!). I'm guessing only when it's too late and the system collapses that people realize the same mistake again of communism/free market.
- superchroma 4y ago
  Marx suggests the ten pillars of communism are thus: 1. “Abolition of property in land and application of all rents of land to public purposes.” 2. “A heavy progressive or graduated income tax.” 3. “Abolition of all rights of inheritance.” 4. “Confiscation of the property of all emigrants and rebels.” 5. “Centralisation of credit in the hands of the state, by means of a national bank with State capital and an exclusive monopoly.” 6. “Centralisation of the means of communication and transport in the hands of the State.” 7. “Extension of factories and instruments of production owned by the State; the bringing into cultivation of waste-lands, and the improvement of the soil generally in accordance with a common plan.” 8. “Equal liability of all to work. Establishment of industrial armies, especially for agriculture.” 9. “Combination of agriculture with manufacturing industries; gradual abolition of all the distinction between town and country by a more equable distribution of the populace over the country.” 10. “Free education for all children in public schools. Abolition of children’s factory labour in its present form. Combination of education with industrial production ... .” Based on this, I'd say that no, government investment in private enterprise by means of subsidy is not communism.
anigbrowl 4y ago
The economic term for this is industrial policy. The wikipedia writeup is thin and US-centric but has some valuable historical context. https://en.wikipedia.org/wiki/Industrial_policy https://en.wikipedia.org/wiki/Industrial_policy

5 points by roschdal 4y ago

Ask HN: is the $52 billion 'The Endless Frontier Act' to US chipmakers communism? The US government subsidizing industry with such an overwhelming amount.

Raed667 4y ago

It is ~literally~ the opposite. This is corporate welfare. > "Socialism for the rich, capitalism for the poor" https://en.wikipedia.org/wiki/Corporate_welfare https://en.wikipedia.org/wiki/Corporate_welfare

smt88 4y ago

No. Is it communism to subsidize agriculture, fossil fuels, real estate, weapons, and all of the other industries that get enormous subsidies? Is Tesla a communist invention? It only still exists because of enormous Obama-era subsidies. The answer, of course, is "no" and also that you need to research what communism means. As a hint, one of the keys of communism is public ownership. This bill doesn't transfer private assets to government ownership.

csomar 4y ago

It is. But so is giving tax breaks to "clean energy" and stuff like that. Usually, the argument is just too nice and people buy (green energy!). I'm guessing only when it's too late and the system collapses that people realize the same mistake again of communism/free market.

superchroma 4y ago
Marx suggests the ten pillars of communism are thus: 1. “Abolition of property in land and application of all rents of land to public purposes.” 2. “A heavy progressive or graduated income tax.” 3. “Abolition of all rights of inheritance.” 4. “Confiscation of the property of all emigrants and rebels.” 5. “Centralisation of credit in the hands of the state, by means of a national bank with State capital and an exclusive monopoly.” 6. “Centralisation of the means of communication and transport in the hands of the State.” 7. “Extension of factories and instruments of production owned by the State; the bringing into cultivation of waste-lands, and the improvement of the soil generally in accordance with a common plan.” 8. “Equal liability of all to work. Establishment of industrial armies, especially for agriculture.” 9. “Combination of agriculture with manufacturing industries; gradual abolition of all the distinction between town and country by a more equable distribution of the populace over the country.” 10. “Free education for all children in public schools. Abolition of children’s factory labour in its present form. Combination of education with industrial production ... .” Based on this, I'd say that no, government investment in private enterprise by means of subsidy is not communism.

anigbrowl 4y ago

The economic term for this is industrial policy. The wikipedia writeup is thin and US-centric but has some valuable historical context. https://en.wikipedia.org/wiki/Industrial_policy https://en.wikipedia.org/wiki/Industrial_policy