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| Crony Capitalism | |
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| Tweet Topic Started: Nov 11 2011, 08:19 AM (365 Views) | |
| Thumper | Nov 11 2011, 08:19 AM Post #1 |
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Fire & Ice Senior Diplomat
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One member here tends to blame many (if not all) of our nations ills on "Crony Capitalism" brought on by the dastardly liberals. What is Crony Capitalism and why is it a result of the Libs? |
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| Chris | Nov 11 2011, 09:34 AM Post #2 |
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Fire & Ice Senior Diplomat
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No, it's also brought on by conservatives and independents as well. What is it? Two other definitions first, from Franz Oppenheimer, The State. New York: Free Life Editions, 1908 (1975), pp. 24-25: I propose in the following discussion to call one’s own labor, and the equivalent exchange of one’s own labor for the labor of others, the ‘economic means’ for the satisfaction of needs, while the unrequited appropriation of the labor of others will be called the ‘political means’. IOW, if you go out in the marketplace and compete and cooperate in the exchange goods and services with others, that is the economic means. If instead you appeal to or purchase political power from the state to get what you desire from others, that is the political means. Use of the political means is, imo, crony capitalism. It can be blatant in the form of bribery, it can be insidious in the form of special interest lobbying, it can be democratic in voting for politicians who earmark funds, it can be obvious in social and corporate welfare. The Christmas Tree Tax is an example, where a special interest group benefits from government regulation and tax. Iraq Oil Policy last decade was another. The FDA Kills gives some more. No point blaming a particular politician, it's rampant. OWS wants to blame the 1%, and in many cases they're right, halfway, because the 1% purchases its power from the state. The state is simply the organization of political means. It's also called corporatism, which is similar to mercantilism back to feudal times. Hope that helps. Questions? Edited by Chris, Nov 11 2011, 09:35 AM.
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| Chris | Nov 11 2011, 08:48 PM Post #3 |
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Fire & Ice Senior Diplomat
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A Thumper bumper. :-) |
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| Thumper | Nov 11 2011, 11:41 PM Post #4 |
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Fire & Ice Senior Diplomat
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No questions. So it is nothing new and is unpreventable and likely in a democratic form of government? Thanks. |
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| tomdrobin | Nov 12 2011, 12:29 AM Post #5 |
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Fire & Ice Senior Diplomat
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I don't know if it belongs under the catagory of crony capitalism, but the biggest problem as I see it is the corruption of the political process by whoring for campaign contributions. Getting elected is such an expensive process that politicians are beholden to those who give them the money to get elected. Currently you have the Tea Party politicians vowing to block any effort to raise taxes. I wonder how much of that is ideological and how much it is if they raise taxes on the wealthy they will loose their support. And, on the other side of the political spectrum the democrats tread lightly on the unions as they are a major funding source. No doubt the problems we face today are the fault of both the lefties and the righties. With the left being responsible for the growing entitlements of the welfare state, and the right being responsible for cutting revenue with unrealistic tax cuts considering the obligations. And, failing to properly oversee and break up those "to big to fail" entities. |
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| Chris | Nov 12 2011, 12:24 PM Post #6 |
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Fire & Ice Senior Diplomat
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Likely and unpreventable in any type of government. The collusion of business and government was preceded by the collusion of religion and government. Every now and then the people rebel. |
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| Chris | Nov 12 2011, 12:31 PM Post #7 |
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Fire & Ice Senior Diplomat
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That is a good example of crony capitalism. Politicians trade favors in the form of regulations against competitors in exchange for power. Blocking raising taxes reduces state power. |
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| Chris | Nov 13 2011, 12:35 AM Post #8 |
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Fire & Ice Senior Diplomat
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Here's a few more views on crony capitalism. First, Barnes, who, iirc, coined the term big government conservative: Obama ♥ the Big Guys One-sided, yes. Now a libertarian: The High Price of Republican Hypocrisy
One more: K Street's Super Committee Splurge
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| Pat | Nov 13 2011, 04:42 AM Post #9 |
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Fire & Ice Senior Diplomat
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An example would be the loan guarantee to the solar panel company that just went bankrupt. Crony capitalism poster child. |
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| Corky52 | Nov 13 2011, 04:51 AM Post #10 |
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Fire & Ice Senior Diplomat
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A better example is the pipeline from Canada that will continue and increase our dependence on a declining resource while bolstering the existing corps at the expense of newer and better ways of doing things.
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