Cronyism, Corruption, and Government Power


merjet

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He takes a long time to make a point. He sounds like he is accustomed to getting paid by the word.

I agree. He is quite verbose.

At about 1 hr., 4 min. he says he doesn't like the term "crony capitalism" and it should be called "crony statism" instead. I think Rand's term "mixed economy" is far better.

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Cronyism: another one of those words that is all over the map.

One broad definition might be something like "preferential treatment for one's socius in commerce, trade, or other forms of human interaction." 'Klan'-ish behavior -- a preference to deal with one's own tribe or race or circle of friends/associates.

At a college graduation: extra tickets are limited to 2 per student...unless you are a friend of the folks handing out the tickets, and then, they will slip you the extra five you need. Petty fraternal cronyism, aka, the way naked sweaty apes behave when thy think nobody is looking..

At the Exxon Station: a guard checks your ID before selling you 10 gallons of gasoline, or setting the price you pay. Huh? Does not reconcile with 'Self Serve.'

At the Exxon refinery: the contract to replace that 10,000 hp stationary turbine driving a pipeline pump is given to the brother-in-law of the CEO, who builds one in his garage out of spare parts from Lowes. Maybe at NeverHeardOfIt, Inc.(because it blew up long ago.) Well, if it happens, that is a kind of Cronyism.

In the Exxon boardroom: preferential treatment from government paid for with campaign donations. Now we're talking.

It doesn't take much analysis to realize that a necessary component for the kind of 'cronyism' that is running rampant in our economies is a corrupt government.

Because we don't have to buy gasoline from Exxon. We don't have to buy stock in Exxon. We don't have to work for Exxon. We can drive by all of those opportunities.

But we do need to pay taxes to an ever expanding out of all control phalanx of governments forever wanting only 'more,' because that is the constant attribute of an out of all control corrupt institution.

So I agree; "crony statism" or "mixed economy" is a far better description. But of course, with ratcake politicos scurrying around, up becomes down, left becomes right, and this gets propagandized as 'crony capitalism,' only to the ratcakes selling that phrase, the 'capitalism' is redundant.

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So I agree; "crony statism" or "mixed economy" is a far better description. But of course, with ratcake politicos scurrying around, up becomes down, left becomes right, and this gets propagandized as 'crony capitalism,' only to the ratcakes selling that phrase, the 'capitalism' is redundant.

Crony Capitalism is a deformed imitation of the real thing. Dissembling and hipocrisy is the praise that vice gives to virtue. Evil often disguises itself as good to get away with evil deeds. You know the old saw: A wolf in sheep's clothing.

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Ba'al the Jersey guy wrote:

Crony Capitalism is a deformed imitation of the real thing. Dissembling and hypocrisy is the praise that vice gives to virtue. Evil often disguises itself as good to get away with evil deeds. You know the old saw: A wolf in sheep's clothing.

end quote

A wolf in sheep's clothing. What an apt description. My granddaughter was here today so that song by Australia's The Wiggles sounds apt. It goes, "Fruit salad. Yummy, yummy," but most kids prefer candy.

I recently read an article in the outrageously progressive Rolling Stone that criticized the Obama administration's crony capitalism and especially Eric Holder, though the article claimed at least once that this was the attitude of the Occupy Wall Street mob. I am not sure of that but the article is worth reading.

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Ayn Rand's villains in Atlas Shrugged, in bed with state power, defined mixed economy/crony statism; with some irony, many of the ratcake politicos pushing 'crony capitalism' characterize Ayn Rand as defending 'crony capitalists.' A clearer example of mis-characterizing an author's message by 180 degrees is harder to find.

The ratcake's idea of 'capitalists' are precisely Ayn Rand's villians in her romantic novels, especially AS. She skewers the concept of state connected cronyism better than any author ever has. And yet... her detractors characterize her as a worshipper of those she paints as villians.

How is it possible to so massively miss her point, unless that is deliberately so?

I suppose, because she is skewering statism along with that. When Marxists et. al. worship statism uber alles, they are of course going to interpret any criticism of statism unfavorably, but beyond that, in this instance, turn the criticism of statism around into a crticism of capitalism, and they have largely got away with it.

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Nepotism is fine as long as you keep it in the family...

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