[MarlonRando]

I read once where half of the world‘s wealth is held by 80 people. 80 people could fit comfortably in one train car.

[T.B. Yoits]

We don’t have capitalism, we have korporatism.

[MeneMeneTekelUpharsin]

I am finding out as I grow older (really old) that just about EVERYTHING is rigged. Only God’s Word and His faithfulness are not rigged. I wish more people could see that and live the life/value system He provides for us.

[aquila48]

“(1) limiting government to a few essential powers (defense, administration of impartial justice, and certain limited public works and institutions); and (2) educating the public concerning the “folly” of attempts to direct the economy by legislators. These approaches offer the best chance to limit crony capitalism, its corruption of natural liberty, and its consequent undermining of benefits of free markets. “

And how do you do that magic? And who does it?

[bobbo666]

The only way to fight this is transparency.

E.g., for gov’mt officials, like CongressCritters becoming millionaires. Once you are in office all of your income becomes public. Not from before. Just on the 1st day your butt hits the chair of power.
Did you buy stock and it soared? Well, that goes on your WWWpage. Did you get $$ as a new board member of a corp? Same.

[Bruce Campbells Chin]

They accomplish this self-enriching corruption of free markets by using the power of government to procure for themselves “systems either of preference or of restraint.”

The solution to this is not more government action, but less. Removing the preferences or restraints imposed by the government.

[DiogenesLamp]

"[Adam] Smith warned that natural liberty faces natural obstacles in the form of human nature, particularly the desire of especially “merchants and manufacturers” to “rig the system.” They accomplish this self-enriching corruption of free markets by using the power of government to procure for themselves “systems either of preference or of restraint.” In so doing, they impose an “absurd tax on the rest of their fellow-citizens.” These preferences and restraints are what we today call crony capitalism.

This is what the North did to the South because they had control of Congress. They rigged the economic system through government passed laws to favor the Northern merchants and industrialists.

This is why the South wanted out of the system. The South would have seen hundreds of millions of dollars in additional revenue into their economy, just from leaving the North.

[Responsibility2nd]

So. Here we have a libertarian and a socialist arguing crony capitalism is bad.

All Right Then.

If that’s what they think - Bring on More Crony Capitalism!

[aquila48]

Any representative democracy will eventually devolve into fascism - and by fascism I mean it in its real sense, where industry and politicians get power by scratching each other’s back, ie crony capitalism.

The industrialist are good at making money and the politicians are good at getting the masses to vote for them by promising them free goodies. So the industrialists and politicians form a symbiotic relationship.

[fruser1]

I always get a kick out of socialists who want gov to run everything because there are so many evil business people, as if only saints are in the government.

They don’t seem to realize that the only way for the biz people to get away with anything is to have someone on the gov side working with them.

[PGR88]

As long as humans have government - our political-economy will be, to some extent “rigged.”

As Smith points out, the simplest regulation will benefit some, and harm another.

In a marxist system, literally everything is rigged. That is why human spirit is crushed, government must necessarily be brutal, and extreme corruption is ALWAYS the end result.

In the USA, our “rigging” comes from our printed, fiat money, issued by our Federal Reserve system. Look up the term “Cantillon Effects” - Smith was very familiar with this.

[Opinionated Blowhard]

Let's ask the expert:

Mr. Speaker, all levels of income are better off than they were in 1979. But what the honorable member is saying is that he would rather the poor were poorer provided the rich were less rich. That way you will never create the wealth for better social services as we have. And what a policy. Yes, he would rather have the poor poorer provided the rich were less rich. That is a liberal policy. Yes, it came out. He didn't intend it to, but it did. I give way to the honorable gentleman.

Capitalism works, even if the rich get richer. As long as the government does not play favorites.

[ridesthemiles]

BERNIE IS THEIR LEADER

[circlecity]

“ Adam] Smith warned that natural liberty faces natural obstacles in the form of human nature, particularly the desire of especially “merchants and manufacturers” to “rig the system.” They accomplish this self-enriching corruption of free markets by using the power of government to procure for themselves “systems either of preference or of restraint.”

This is why we have such a massively regulated nation. It prevents competition. The cost of dealing with the massive regulations is too much for the smaller guys, especially in the start up phase. It acts as a barrier to entering the market. The big corps can afford an entire floor of lawyers to deal with regulatory compliance. It is a price they are happy to pay because it prevents competition.

[rottndog]

“The system” is rigged only to the extent government exercises excessive power...like anything above and beyond the enumerated powers of A1S8. Money has always followed power, all throughout human history. The only way to minimize that corruption is to limit the powers the government has that the money seeks to corrupt. That is the whole purpose of the Constitution...you know, LIMITED government.

[spintreebob]

Eisenhower warned of the military-industrial complex. Today we talk about the SWAMP. They are terms that describe the deviation from Capitalism.

DEI is also deviation from Capitalism. Employees and corporations should be paid on useful goods they bring to the table.

But extreme MAGA anti-immigration is also socialist big government and anti-capitalist, which is a free market, including a free market in labor.

Of course, immigrants who murder, rape...DUI, Drunk n Disorderly and immigrants who collect welfare and immigrants who give aid and comfort to terrorists are not free market in labor.

American culture has been corrupted. Capitalism is often blamed for what is not Capitalism.

Currently, the SWAMP is not Capitalism and should be removed like a cancer wherever it occurs.

[Southside_Chicago_Republican]

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