Publisher's note: The author of this in-depth piece, Anna Githens has given us a look into the twisted web of just two players of this nasty game. I am honored to present this to our readers. Sit back, pour yourself a cup of coffee and read the tale.
The tangled web of crony capitalism, a phrase that has been thrown around quite a bit lately, is currently weaving its tentacles far and wide throughout our branches of government. While those on the left believe that pure capitalism uncontrolled and left on its own will inevitably result in crony capitalism, those on the right believe crony capitalism arises from the need of big government, or more precisely socialist government, to control the state.
Regardless of which catalyst one may ascribe to, both sides can most likely agree on what crony capitalism is not; that is, bonafide entrepreneurship functioning as a free market system based on free enterprise in a free republic. Authentic capitalism plays no favoritism, greases no hands, and gives no tax breaks. It follows the letter of the law and thrives on honesty in genuine free market competition. However, the pure and unfettered capitalist system quickly sullies once cronyism begins to infiltrate the free market, thus effectively transforming it into something defective and untrustworthy.
Capitalism has gotten a bad rap lately, and undeservedly so. Simply the chosen economic and political system of our country’s trade and industry, it has no face or conscience; it is at the mercy of persons who use private business practices as a means of generating income. It may be said that its demise comes from a breakdown in the morale of its players who, lured by the quest for money and power, use their accumulated wealth and influence to garner tax breaks, loopholes, favor trading, and political positions. This includes both individuals and lobbyist groups.Add a comment