This is a dangerous idea, but arises from taking Modern Monetary Theory (MMT) to the next level.
MMT is complicated and hard to grasp, but in a nutshell, governments could print money to spend as they wish, as long as not so much is printed as to cause inflation. It is like stealing a little at a time so nobody notices.
Instead of investing that just-printed money on jobs in a Green New Deal, what if the government simply bought something?
The same approach is required – just a little, get away with it, without spooking things.
In general, governments aren’t particularly good at operating businesses, but surely there are opportunities from time to time…
Note: you can’t simply just buy a listed company. Typically most of the shareholders are not in the mood for selling. Typically you need to offer a hefty premium over the current share price to purchase a majority shareholding. But that is not hard if the money is “free”.
- Punishment: sometimes (well, often) corporations operate within the law but in unethical ways. Hiring security forces to shut down the rebellion of villagers. Buying smaller competitors simply to shut them down. Abusing monopoly advantages when the fine will be in the billions, but worth it.
- Nationalising (reversing privatisation): instead of complicated negotiations and politics, simply purchase the company you wish to nationalise
- Buying foreign competitors: this is an extreme idea, and probably would only work via a series of shell companies and so on
Of course once you start this way of thinking, then you have begun taking an authoritative path. I only suggest this as a possibility within strict guidelines and transparency. Perhaps only for punishing unethical businesses who operate within the law.