Tag Archives: cronies

What Is the Price of Perfect Equality?

Equality under the law is vital to a robust and relatively free society. It is a principal which should be celebrated and a goal toward which society should strive. No special deals for special classes. This is a fundamentally American principal. (Though we’ve often failed in our pursuit of this ideal.)

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How Uber faced off against New York’s mayor and won

Good on ya Uber.

If you can make it, and beat the cronies in New York, you can make it anywhere. Take that cabbie cronies.

Of course Bill deBlasio is still going to try to make Uber pay for part of the Subway system. We’ll see about that. Right now the mayor is huddled up in Gracie Mansion licking his wounds and wondering how he got beaten so badly.

And that is a very good thing for New Yorkers. The longer he’s in the fetal position the better.

(From Bloomberg)

Uber Chief Executive Officer Travis Kalanick has said he wants to refashion the car-booking company into a sort of politician to fight against the taxicab industry. Kalanick should get the confetti ready because Uber just won perhaps its biggest campaign yet. New York City Mayor Bill de Blasio backed down on a plan to stall the growth of Uber and similar ride-hailing apps.

Buried within the mounds of tweets, retweets, newspaper editorials, insulting app “features,” television commercials and press releases, a lot of stats have been thrown around by both camps in the hopes of swaying New Yorkers. Here are eight of the most cited numbers that helped shape the debate, and eventually tilted the campaign in Uber’s favor.

Click here for the article.

No, billionaires don’t drive economic growth – and crony billionaires strangle it

This is a very interesting article. The author basically makes the case that there are 2 distinct kinds of billionaires, crony and generally non-crony. And he argues that though non-crony billionaires have little if any impact on growth (I haven’t looked at his data but this doesn’t seem crazy to me.) the crony billionaires have a huge negative impact on economic growth.

Though the author implies that that non-crony billionaires are a neutral factor (in growth terms) in an economy is some sort of surprise to we free market types, it is not. Sub-billionaires (the non-crony version) are probably WAY more important to growth. They are still building fortunes, and businesses, etc. In other words Bill Gates might not have that much impact on growth now but he sure as heck did as he was building Microsoft.

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Cronies are like mushrooms, they grow best in the dark

Technology and open sourced methods of organization—of people, money, and information—represent a real threat to the crony capitalist system.

Cronies are like mushrooms, they grow best in the dark. For too long Washington has been a dank cave of insider dealing and general corruption*. Money is made (legally stolen?) in the shadows.

Time for some sunshine.

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Atlas has shrugged in Detroit.

The productive have left the Motor City. After years of being squeezed they left. Or as Ayn Rand might have said, they shrugged, and moved to Florida.

One just can’t run a city that way. Can’t run a country that way either.

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