Carney lets Obama off too easy here. Not only does Obama leave a corporatist legacy, Obama is himself a corporatist, or more specifically and we’d say more accurately a crony capitalist. Obama used government both passively and actively to enrich his friends (and ultimately himself). The president also sought unceasingly to further entwine business and government so that crony fruit could be plucked by allies in the future. He gave away much to pharma and the health complex in Obamacare.
Everything’s big in Texas. Including, often, the cronyism.
In another life I would have said that this was clearly progress, the head of a communist/socialist country meeting with the head of the US Chamber of Commerce. Nowadays, I am not so sure.
We are great fans of The Mises Institute at Against Crony Capitalism and we are fans of Mr. Deist as well.
Below we talk about our current and pervasive crony capitalist system and why it’s even more insidious than one might believe.
Steve Job’s unrelenting genius challenged and overcame the status quo multiple times in his life. The iPhone being his last spectacular victory.
George Monbiot of Britain’s Guardian newspaper seems to think that Mises is indeed the progenitor of today’s crony capitalism and more.
Surprise to Harwood maybe. (But how could it be at this point? How daft could he be?) But not a surprise to us or likely many of our readers.
Harwood is, as you may remember the the chief political correspondent for CNBC who also ran stories by and offered advice to the Clinton campaign. (This was exposed by Wikileaks.)
The predictions by the “remain” camp prior to the Brexit vote were dire. A “leave” vote would trigger a recession in the UK if not the world. Companies would pack up and leave Britain for the EU en masse. Life as Britons knew it would end.
In a sense the fear mongers were right. Life did change for Britons, but for the better.
I wonder why the economy would react positively to the prospect of being cut loose of the crony monster in Brussels?
See, without licensing pandas might take over the industry!
Amen Senator Paul.
This headline comes from CNBC and is misleading. These companies don’t “make the most money from the FEDERAL GOVERNMENT,” Taxpayers are making these companies rich, not the government. It’s not the government’s money. It’s yours. Too many people forget this.
Why are we going into massive debt, in part, to pad the bottom lines of these companies?