3 ms·
I believe "cronyism" here refers to government interference on behalf of certain companies or industries, driven by lobbying etc. It may be a common failure mod
by itsananderson 7y ago
I believe "cronyism" here refers to government interference on behalf of certain companies or industries, driven by lobbying etc. It may be a common failure mode for capitalism, but it's hardly "what makes the market free".
https://en.m.wikipedia.org/wiki/Crony_capitalism https://en.m.wikipedia.org/wiki/Crony_capitalism