Authored by Amirhossein Eshtiaghi via The Mises Institute,
Bernie Sanders is a socialist populist. His unfamiliarity with the fundamentals of economics explains why he considers Denmark to be socialist. A former Danish Prime Minister once implicitly addressed such claims, noting that Denmark’s economy is not socialist, but rather a market economy. But the truth does not matter to American leftists.
He has now made headlines again with a bill that would expand state participation in the AI sector—a plan that, contrary to the claims of his supporters, could have disastrous consequences. In the following, these consequences are briefly examined.
This Is a Fascist Policy
Fascist Italy and Nazi Germany, after the Soviet Union, were among the countries with the highest levels of state ownership and state control over the economy. In both Germany and Italy, the state controlled many companies, while private firms operated under strict state supervision and intervention. The Nazis nationalized nearly half of the economy and then used extensive regulations to bring the private sector under state control. Mussolini followed a similar approach. The state determined what goods would be produced, how they would be produced, and in what for
