Dispatches from The Corporate State

This is the kind of story I always thought typical of corporate states like France. It is sad to see this happening so frequently in the US

Recently, President Obama selected General Electric CEO Jeffrey Immelt to chair his Economic Advisory Board. GE is awash in windmills waiting to be subsidized so they can provide unreliable, expensive power.

Consequently, and soon after his appointment, Immelt announced that GE will buy 50,000 Volts in the next two years, or half the total produced. Assuming the corporation qualifies for the same tax credit, we (you and me) just shelled out $375,000,000 to a company to buy cars that no one else wants so that GM will not tank and produce even more cars that no one wants. And this guy is the chair of Obama's Economic Advisory Board?

This is the classic kind of cozy relationship between large industrial corporations and government that has been a feature of European states for years.


  1. d-day:

    Maybe Obama and Immelt can talk about it on the return flight from Brazil?


  2. perlhaqr:

    Yeah, why are we paying a tax break on cars that are selling like hotcakes, and so much that they're going above MSRP, again?

  3. IgotBupkis, President, United Anarchist Society:

    File this one under "I either want less corruption, or more chances to participate".

  4. me:

    Yup. The unfunny part is that the US is getting all the negatives of European Socialist states - but none of the advantages. Way to go.

  5. marco73:

    GE used to be an exciting, innovative place. Now it's become a comglomerate of rent-seekers. What bright, forward thinking young person wants to work for these guys? I wouldn't take a long term position on this company.

  6. Ben:

    If I worked for GE, I'd start looking for a job with a firm which has a better company car policy