WTF is “crony capitalism”? A phony Leftist phrase the Left wants the Right to use to deflect from the REAL problem: the $4 trillion mostly unconstitutional federal government which is corrupt to the core.
Hint #1: the Constitution is the Supreme law of the Land.
Hint#2: the Constitution forbids GOVERNMENT from taking bribes. The Constitution does NOT forbid free enterprise from offering bribes.
>>WTF is “crony capitalism”?
It is a market where government heavily influences who wins and who loses. Ever hear of rent-seeking? It’s in that economics text that you half read. Rent-seeking is the mildest form of crony capitalism. Subsidies, regulations, etc that do not affect all equally are another form it takes. Lobbyists and outright bribes are not crony capitalism in themselves, but the effects of them usually are, in the form of pork barrel projects and the aforementioned subsidies, etc are crony capitalism.
Your textbook economics is nice, but find the explanation of ceteris paribus to really understand just how simplistic they are in an infinitely complex system.
>>Hint #1: the Constitution is the Supreme law of the Land.
OMG, did you just wake up from a 20 year sleep?
Circuit judges, the SCOTUS, EOs, and media are the de facto supreme law of this land. The Constitution is just a firewall...if it’s even that anymore.