Crony Clean: The Spray That Breaks Down Corporate Cronyism
By W. E. Messamore on 08/21/2012 in campaign finance, corporate cronyism, corporate personhood, corporate welfare, corporations, corporatism, crony capitalism, libertarian, lobbying, regulation with 2 CommentsRead Time: < 1 minute
This is a pretty funny video that makes a libertarian argument:
That more regulation (i.e. more political involvement in the economy) does not reign in out-of-control corporations, but actually creates the incentive for corporations to capture control of the regulatory process through lobbying and campaign activism so they can use political management of the economy to their own benefit by setting rules and policies that exempt them from responsibility for their actions and overtly favor them over their customers and their smaller competitors.
Libertarians call this process corporatism, cronyism, corporate cronyism, crony capitalism, and fascism among other names:
Do you agree with this argument?
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2 Comments
Brad R. Schlesinger
08.21.2012
@bradschlesinger
Ahh, smells like public choice!
Brandon Fallon
08.21.2012
@bfallon
Yes, I’d agree that something needs to be done to separate business from politics. Strong campaign finance reform and a weaker lobbying system will help with that separation. Some regulation is still necessary as long as it is aimed at promoting growth throughout the entire industry and not just creating a monopoly.