One danger of nationalism, Friedrich Hayek warned in 1960, was the "bridge" it provides "from conservatism to collectivism."

"To think in terms of 'our' industry or resource," he wrote, "is only a short step away from demanding that these national assets be directed in the national interest."

That's a short step that President Donald Trump has eagerly taken. In the first nine months of his second term in office, the president has overseen a giant government leap into the boardrooms of strategically important businesses.

In June, Trump demanded (and the federal government received) a so-called golden share in U.S. Steel, which effectively gives the White House veto power over much of the company's future. Two months later, the Trump administration purchased a 10 percent equity stake in I

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