Right On Business

People often claim that capitalism is broken because of the cronyism that's infected our politico-economic system. The influence of special interests, and the subsidies, credits, tariffs, investments, and preferences that work to elevate some industries and companies at the expense of others, has undoubtedly reached staggering and nauseating proportions. In this episode, we argue that this state of affairs is a corruption of capitalism and the free market economy. Although even Adam Smith warned against cronyism in his explication of the economic system that we now know as capitalism, politicians on both sides of the aisle frequently engage in this anti-competitive, anti-free market practice. We contend that, while cronyism is not a partisan issue, conservatives in particular need to reject crony capitalism and re-embrace a truly free free market. Episode Notes: http://rightonbusiness.com/crony-capitalism—why-it's-not-capitalism-at-all/