Wry Catcher
Diamond Member
- Banned
- #1
Crony capitalism is an economy in which businesses thrive not as a result of risk taken for them, but rather, as a return on money amassed through a nexus between a business class and the political class. This is done using state power to crush genuine competition in handing out permits, government grants, special tax breaks, or other forms of state intervention[1][2] over resources where the state exercises monopolist control over public goods, for example, mining concessions for primary commodities or contracts for public works. Money is then made not merely by making a profit in the market, but by profiteering by 'rent seeking' using this monopoly or oligopoly. Entrepreneurship and innovative practices, which seek to reward risk are stifled, since the value-add is little by crony businesses as hardly anything of significant value is created by them, with transactions taking the form of 'trading'.
Crony capitalism spills over into the government, the politics and the media,[3] when this nexus distorts the economy and affects society to an extent it corrupts public-serving economic, political and social ideals.
Crony capitalism - Wikipedia
From Trump's nominees for his administration, to the last minute rush to pass the 2017 tax bill, does anyone not believe Trump has brought Crony Capitalism to The District, and spread it throughout or nation to benefit the few and not the many?
Crony capitalism spills over into the government, the politics and the media,[3] when this nexus distorts the economy and affects society to an extent it corrupts public-serving economic, political and social ideals.
Crony capitalism - Wikipedia
From Trump's nominees for his administration, to the last minute rush to pass the 2017 tax bill, does anyone not believe Trump has brought Crony Capitalism to The District, and spread it throughout or nation to benefit the few and not the many?