It’s probably not surprising to regular readers of this website either.
Big business LOVES government. It in many respects LOVES regulations. Whose lobbyists do you think write the regulations?
Regs often game the system toward the connected and entrenched. A Federal subsidy here. A new regulation that shuts out up and coming companies and technology there.
Cutting regulations is good for the economy. It’s good for small and medium sized businesses. It isn’t always so good for the behemoths that have teams of people working the politicians on Capitol Hill.
There is no “business versus government” dynamic. The 2 are sadly too often 1. Some insight from Professor Klein from the most recent Mises University.
Tim Carney is our colleague at AEI. He has long done excellent work on crony capitalism.
Some good points are made here. But also some bad ones. Matt Lewis is still clinging (it appears) to the 20th Century version of American politics, defined by “conservatives” and “liberals.” Where in the small(er) government camp socialcons rule the roost and libertarians are kind of a tack on. Times have changed.
That being said he is right on his main point. “Conservatives” both social and fiscal should be wary of big business. Lewis is also right that this wariness presents a particular challenge for small government folks as most of the other major societal institutions are in the statist camp,
Aetna has more than trippled in stock price since Obamacare passed. It’s almost like the law was written FOR them or something.
That’s nice. It sure is good to know that the crony deal of the century (so far) Obamacare, is working out for the giant insurance companies. I was worried for them.
I’m joking of course since the giant health insurance companies along with Big Pharma wrote a good piece of the law. A law which was not even supported by a majority of Americans but was forced through Congress on questionable procedural grounds.
It’s amazing but even now many people refuse to see this rather obvious fact. Government and big business like each other. For the most part they aren’t rivals. GM, Goldman Sachs, GE, Boeing, JPMorgan, Monsanto, Walmart, Chrysler, Berkshire Hathaway, Google, CVS, AT&T, Northrup Grumman and many other giant companies are partners (to a significant degree) with the US government.
Because that’s where the money is. Specifically taxpayer money.
Viva public/private partnerships! Viva crony capitalism!!!
The National Review’s Jonah Goldberg argues that what is called the American “Left” will never really fight crony capitalism. That what the progressives actually want is not the separation of business and the state but business which will do as it is told. Business as junior partner to the government. A lapdog.
Is he right?
That’s the title of the article below.
It is absolutely true that small business is the employment driver for this country and in many respects for the world.
It is funny, every once in a while someone will try to make the case to me that #oldmedia, TV, newspapers, cuneiform tablets, aren’t overwhelmingly statist. These people argue that because the #oldmedia is controlled by a handful (and soon to be a smaller handful) of large corporations that this somehow means that the media, ispso facto, can’t be “liberal.” That somehow corporations aren’t for what is often considered the “liberal” or now “progressive” agenda.
My dream is a lot more than this.
For as long as there has been an “American Dream” there have likely been people who insisted that it was dead. But it’s funny. No one really knows what the “American Dream” actually is.
The US Chamber is spending big money in an effort to rein the Republican Party back away from the emerging small government coalition which has emerged over the past couple of years.
It seems fairly obvious that it would not. It is very hard for a large business to remain a dominant player without gifts from the government. Big business is not enamored with the free markets libertarians advocate. In a free market big businesses are constantly sniped at by smaller but more nimble competitors. Smaller newer companies are hungrier and usually have newer equipment. They often have fresher personnel. Free markets make life hard for big business.
Sometimes? I’d say often.