4 ms·
The definition of crony capitalism is using government power to protect business interests. It is not impossible to watch the markets, because the invisible han
by aarongray 8y ago
The definition of crony capitalism is using government power to protect business interests. It is not impossible to watch the markets, because the invisible hand of free choice does it every day, and it punishes those who cannot compete. It's when governments try to get in the way of competition that things break down.
- monocasa 8y agoAll capitalism is using government power to protect business interests. The very idea of capital only makes sense with a state enforcing it.