This week Senator Rand Paul, who is likely running for president, suggested that Congress act to pass legislation which would declare Detroit an economic “freedom zone.” That is to lower taxes in Detroit to near 0% levels spurring business activity and development.
We at Against Crony Capitalism wholeheartedly agree with this idea. We even called for something similar last year. Unleash the market in Detroit and the city will bloom.
Few cities have been as ravaged by inept governing and crony capitalism as Detroit has. Because of decades of mismanagement and neglect what was once one of the great cities of the world is now a rusting heap. But it need not remain so.
I have to say that I was saddened by Pope Francis’s recent assertion that “rampant capitalism” is a source of many of the world’s ills.
This comes to us from a Facebook friend. A brief but harrowing tale of pride before a fall in the commodities market. Real capitalism makes one pay for one’s mistakes.
We have no affiliation with the Surgery Center of Oklahoma but if I needed knee surgery this is probably the first place I’d consider.
Good report. Our system of crony capitalism has cut many people out of upward mobility, or at least made it much harder to get ahead. In our current system the established players compound their wealth with the help of the state.
Crony Capitalism in America, 2008–2012. By Hunter Lewis
by David Gordon
Those of us who favor the free market must confront a problem. The virtues of the market, and the vices of socialism and interventionism, have been made incontestably clear by Mises, Rothbard, Hazlitt and others. The case for the free market, as these great figures explain it, can readily be grasped and demands no esoteric knowledge. Yet many academics reject the market. They condemn capitalism for leaving many in poverty and for glaring inequalities. How can so many academics fail to grasp what seem to us obvious truths?
What is fascism?
Basically it is the government working in partnership with the corporate establishment to secure political power (for government) and profits and power (for businesses).
What we have now is a soft fascist system, crony capitalism. It’s only soft in the sense that the Gestapo for the most part is not breaking down doors willy nilly (though there are exceptions to this, and more and more). Soft fascism becomes very hard when it comes down on you or your business, but it is not Hitler’s fascism, yet.
When contemplating this question one needs to keep in mind the expansion of the “crony sector” too. Much of what is considered “private” economic activity really is not.