Well, that's a title that ought to generate a few raised eyebrows at least. To be fair, this is not a defense of crony capitalism, but rather an attempt to take a closer look at the phenomenon and understand it a little better.
First, we need to look at the language we're using. I despise the term crony capitalism, because it's inaccurate. There is nothing capitalistic at all about a business model that depends on government handouts or contracts or regulation to succeed (and all three are different, as we shall see). The reason that it's popularly called crony capitalism is to discredit capitalism. We need to call it what it is, which is corporatism, or, to be more bluntly accurate, fascism (I would recommend avoiding this term unless you have about an hour to explain the difference between fascism as practiced by Nazi Germany from that of Italy in the 20s and progressive America's Bête noire of the same time period. If you want to learn more about this I recommend reading- no joke- Jonah Goldberg's Liberal Fascism).
Very interesting read...
http://minx.cc:1080/?post=352096
First, we need to look at the language we're using. I despise the term crony capitalism, because it's inaccurate. There is nothing capitalistic at all about a business model that depends on government handouts or contracts or regulation to succeed (and all three are different, as we shall see). The reason that it's popularly called crony capitalism is to discredit capitalism. We need to call it what it is, which is corporatism, or, to be more bluntly accurate, fascism (I would recommend avoiding this term unless you have about an hour to explain the difference between fascism as practiced by Nazi Germany from that of Italy in the 20s and progressive America's Bête noire of the same time period. If you want to learn more about this I recommend reading- no joke- Jonah Goldberg's Liberal Fascism).
Very interesting read...
http://minx.cc:1080/?post=352096
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