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Tag Archives: GE

Obama’s “Power Africa” means a billion dollar payday for General Electric

“The interaction between government and business will change forever. In a reset economy, the government will be a regulator; and also an industry policy champion, a financier and a key partner.” - Jeffrey Immelt, CEO of General Electric

From the first days of this site we have chronicled GE’s mastery of the crony capitalist system. The company is extremely good at leveraging its size and political connections. Arguably there’s no company that works the system better.

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GREEN ENERGY TRIUMPH: $11,000,000.00 SPENT PER JOB CREATED

The environment is very important to us at Against Crony Capitalism. We believe in a cleaner planet, we are fans of trees, we like vast expanses of rain forest, we like environmentally friendly materials and energy. But  in order for something to be considered truly sustainable it must be sustainable economically. Does the market want a material or form of energy at a cost which makes sense? If the answer is no, if a project is not economically sustainable, it should not be done. Pouring mounds of taxpayer dollars (which are taken from the productive part of the economy) into untested technologies and markets created by government fiat is just poor stewardship. It’s a bad use of money.

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