[John O]

so what he is calling “crony Capitalism” the rest of us call socialism.

[Cincinatus' Wife]

“All that matters in a crony capitalist world is closeness to state power.”

It’s well written and worth a full read.

[EternalVigilance]

so what he is calling “crony Capitalism” the rest of us call socialism.

Exactly right.

Perpetuated by Democrats and Republicans.

[prof.h.mandingo]

It might be semantics but socialism is government run major industries. Crony capitalism is different in that stockholders and the individuals who run the corporation make huge profits due to sweetheart deals with government. There is also a revolving door between government and private concerns who “scratch each others backs”. The common man is left hanging in both cases. Crony capitalism is what gives true capitalism a bad name.