NYU business professor Scott Galloway suggested that massive programs meant to support large corporations are essentially socialism, and that if people truly desire a capitalist system, then some of them should be allowed to fail, according to MarketWatch. The professor said it seems incoherent that we embrace capitalist competition among our largest corporations when times are good but then prop them up with spending programs he classified as socialist when times are bad. With this in mind, he said that it would be more consistent to allow certain companies, such as those that spent a lot on stock buybacks, to simply fail. As it stands now, he believes that while firms and their shareholders are majorly benefiting from government spending, their employees are not, or at least not to nearly the same degree.
His words call to mind those recently made by venture capital CEO Chamath Palihapitiya, who suggested that extending aid to giant multinationals might have the effect of propping up poorly performing CEOs and boards, who wouldn't last under normal circumstances. He suggested instead that governments focus on helping individuals, while letting their employers fail.