some call it corporate socialism others corporate welfare some say it's socialism for the rich and capitalism for the poor others refer to it as privatizing profits and socializing losses no matter what you call it the bottom line is this many are worried about this trend of favoritism where corporations get the best of both worlds capitalism when times are good and socialism whenever there's a crisis it isn't a new concept by any means having most likely been coined by ralph nader back in 1956. initially it primarily referred to preferential treatment given to large corporations in the form of subsidies tax breaks legislation which raises barriers to entry and thereby helps large players consolidate their power the list could go on and on closer to the present terms such as corporate welfare have been frequently used to describe the preferential treatment given to certain companies after the great recession for example one on the fiscal policy front corporations that were considered too big to fail being rescued through so-called bailouts from banks and insurance companies to auto industry players and two on the monetary policy front central banks like the federal reserve buying toxic financial sector assets such as mortgage-backed securities needless to say the general public isn't thrilled and we have seen this once the 2020 economic crisis kicked in and the average person demanded a larger piece of the generosity pie anything from job protection measures to let's say universal basic income experiments which involved sending people money directly however this leads us to the elephant in the room in terms of questions just how generous can governments and central banks keep being until something breaks
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