A second observation would be that although socialism has taught us that it inevitably leads to cronyism it also to be noted that, if only to a lesser degree, the intrusive state of whatever flavor inevitably breeds cronyism as it creates distortions and dislocations and then moves in dark corners to ameliorate the baleful effects of all the good it has done.
Crony fascism works for me.
A second observation would be that although socialism has taught us that it inevitably leads to cronyism it also to be noted that, if only to a lesser degree, the intrusive state of whatever flavor inevitably breeds cronyism as it creates distortions and dislocations and then moves in dark corners to ameliorate the baleful effects of all the good it has done.
That was a good post exemplifying simple and true logic. It "ain't" capitolism but simply corruption.
Im going to disagree..it political capitalism...vs financial capitalism
What DC does is control political power..
if you a business money becomes irrelevant that's why money can be pissed away and wasted producing nothing...
it all about your political capital that you have with DC..i.e. the left
think Schindler's List where at the start the guys whole point was to get politically connected with the Nazi Party to be successful.. that factory and other resources allocated to him by the government..
That was truly a case where he didn't “build it”
That's what Obama and the left means..and they want it that way...everybody beholding to them
crony capitalism is political capitalism as opposed to financial capitalism
A: you could not be more wrong. The prefix CRONY changes capitalism to the opposite of capitalism, the same way prefixes like "anti" and "non" and "faux" and so on.
B:I tried to cut off inane comments at the pass, giving you two other options right there in the opening paragraphs...meaning look, move along, this article is not about the debate over what to call it.
C: This article was not about that. Thanks for reading, but missing the entire point.
“If it is the product of cronyism it cannot be capitalism.”
Explain that. Greed and a willingness to cheat are present in people of all political persuasions. The former radio evangelist Garner Ted Armstrong started his shows saying that human nature is a combination of vanity, jealousy, lust and greed. Who remembers him?
It is a deformed form of capitalism. It makes use of capital and private ownership.
It isn’t free enterprise, but it is a kind of capitalism.
It is closer to the economic program of fascism, which, in critical ways, lives up to its name, “national socialism.”