1 of 3412345678910...Last »

Tag Archives: Federal Reserve

Big government apologist: Why even fight crony capitalism?

Regular readers of ACC are aware of the current battle surrounding the reauthorization of the Export-Import Bank of the United States. We believe, along with many others, that Ex-Im is great example of crony capitalism which should be euthanized by a Congress which professes to be for free markets and small government. Whether this will actually happen is an open question however as the bank serves some of the heaviest hitters in corporate America, Boeing chief among them.

But for some, including the author of the attached article, the question is why even have this battle at all? Is cronyism really so bad? So what’s a little a public/partnership action? Who are these nuts anyway who want a separation of government and business. Free markets and economic freedom stink anyway.

We’ve documented why Ex-Im is bad from more than just a moral perspective. Taxpayer backed loans to one corporation often disadvantage other businesses. Free markets allow for opportunity and growth. Crony capitalism strangles growth and enriches established firms which get fat, inefficient, and tend to be slower to respond to the customer.

Still some still don’t get it. Jeff Spross at The Week clearly doesn’t.

Read More

Will the New Banking Proposals in Iceland Save it from Economic Instability?

Iceland stands like a sentinel at the gates of the Arctic and astride the Mid-Atlantic rift. Part of Scandinavia but also the last stone hop to North America it is a place which breeds peculiarity. With a population of under 330,000, less than the population of Wichita, Kansas, this peculiarity is compounded. Throw in month long winter nights and communal hot spring spas and one can understand why the tiny country produces such weird (and often interesting) furniture, music, and economic ideas.

Attached Ash Navabi at the Mises Institute examines one of Iceland’s most recent idea exports, sovereign money.

Read More

Big Business’s powerful wingman (Government)

Many people wrongly believe that politics is to a large extent a battle between government and business. That the 2 represent opposite dispositions. This is a foolish notion. Business and government are more often partners than adversaries. Especially now.

But crony capitalism has a long history in this country.

Read More

1 of 3412345678910...Last »