Capitalist corruption of government for private gain. Sometimes mislabelled Corporatism. Libertarians use this term to describe any government/capitalist relationship they do not like and to excuse bad behavior by capitalists. But all capitalism is fundamentally crony capitalism because government favors owners with systems of property. Corporations, with their special privileges, are an especially clear example. Crony Capitalism is one type of Privatization of Power, and is practiced by the major funders of libertarianism.
- City of London (3 links)
- The City of London, roughly a square mile of financial district in London proper, is an actual, existing charter city. Business voters vastly outnumber residents and roughly 400,000 workers commute in and out. It is the center of a worldwide web of tax avoidance and crony capitalism, and the real reason why libertarian ideas of charter cities will fail: they cannot compete.
- How Market Power Leads to Corporate Political Influence [More...]
- "Neoclassical economic theory assumes that firms have no power to influence the rules of the game... This is true only in competitive product markets. When firms have market power, they will seek and obtain political influence and vice versa."
- Obstructing Regulation And Regulatory Capture (26 links)
- Libertarians side with capitalist obstruction of harm-reducing regulations, including deregulation. Addictive drugs (such as tobacco), clean air, workplace safety, pollution reduction, prohibition of lead and mercury contamination, food safety, global warming, etc. They seem unaware that reducing some harmful freedoms can result in huge benefits (including freedoms) for others.
- Privatization (30 links)
- There is an enormous history of privatization which shows that while it is sometimes beneficial, often it does not give the results its proponents claim. Privatization is often a form of crony capitalism, and often results in a different and less desirable product.
- That’s Just Capitalism [More...]
- "To put it in the simplest terms: the libertarian populist says that rigged capitalism creates huge inequality, but the truth is that unrigged capitalism does the same thing."
- The “corporatist” confusion: Why a prominent political term needs to be retired [More...]
- Explains misuse of the word "corporatism in at least 4 senses, including that by Edmond Phelps "as the stale, run-of-the-mill libertarian propaganda that it is." Crony Capitalism is a more accurate word for most current uses.
- Thomas Jefferson Feared an Aristocracy of Corporations [More...]
- "The author of the Declaration of Independence warned against the threat to democracy posed by big banks and big corporations. Too bad the Supreme Court doesn't respect the original intent of the founders."
- Timely Abraham Lincoln quote: Who defines Liberty? [More...]
- "The shepherd drives the wolf from the sheep’s throat, for which the sheep thanks the shepherd as a liberator, while the wolf denounces him for the same act as the destroyer of liberty, especially as the sheep was a black one."
The shepherd drives the wolf from the sheep’s throat, for which the sheep thanks the shepherd as a liberator, while the wolf denounces him for the same act as the destroyer of liberty, especially as the sheep was a black one.
Abraham Lincoln, "Timely Abraham Lincoln quote: Who defines Liberty?"