This election we have had a full array of attacks on the system we live under….even from a person that has gamed the system to benefit himself….there has been so much talked about….especially those damn “crony capitalists”…..but what is this phenom we hear so much about?
Crony capitalism and genuine capitalism, if not opposites, are fundamentally opposed. Unfortunately the broader public, to date, is largely unaware of this.
Crony capitalism is the marriage of the state and private special interests. Some people have called it corporatism, mercantilism, fascism, or even Communism.
We will call it crony capitalism.
By whatever name, it is phony capitalism.
Well said…..and this is where an article I read in The American Conservative comes into the picture…..
The story of crony capitalism—where success in business depends on government favoritism, not competitive products—is often told in anecdotes. Anyone who follows policy debates can rattle off a list: the Solyndra loan-guarantee fiasco; the Utah woman who couldn’t braid hair for a living without undergoing 2,000 hours of formal training, a regulation designed to shield established salons from upstart competition. But while such stories serve as excellent examples of the phenomenon, they can’t reveal its true depth and breadth.
Crony capitalism isn’t just a collection of individual restrictions: it is a cancer that is slowly eating the economy. Signs of it can be found in even the broadest, most fundamental economic data, and the nation’s biggest industries have fallen victim to it. And rooting it out would require a complete rethinking of how businesses and the government interact.
Pay to play comes to mind….the Clinton camp is guilty as sin….Trump ……who knows for sure.
If the liberals are bitching about iot and now a conservative publication is also….then there is a good chance that it is the cancer that some call it.