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Well, no. There's actually a term for it: Crony Capitalism aka "Cronyism" (protectionism). Don't conflate this with actual Capitalism.
by cpursley 10y ago
Well, no. There's actually a term for it: Crony Capitalism aka "Cronyism" (protectionism). Don't conflate this with actual Capitalism.
- geogra4 10y agoWhere has "actual capitalism" ever existed? It's always cronyism.
- dragonwriter 10y agoCronyism is actual capitalism; “capitalism” was a name first applied by critics to the real world dominant system of the 19th Century industrialized West, and cronyism is a central feature of that system. Heck, the name “capitalism” is a reference to the fact that that system is characterized by active measures (starting with the design ofnthenstructure of property rights) taken to organize society for the benefit of a particular narrow class, the capitalist class. (“Protectionism” is a different, but related, thing, though.)