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"...that some government interventions to address the apparent shortcomings of capitalism invite cronyism" LOL, so yet again, govermint is the problem! It sho

"...that some government interventions to address the apparent shortcomings of capitalism invite cronyism" LOL, so yet again, govermint is the problem! It should be increasingly clear by now that capitalism itself is the problem. It naturally leads to the rich getting richer, and despoils everything in the name of profit, unless it is reigned in by government, taming it for the benefit of society, not just profit and growth. Cronyism is a symptom of too much private power.

umvi 5y ago
Pretty much every form of government/economy has cronyism problems. Crony capitalism, crony socialism, crony communism, crony dictatorships, etc. all exist. It's human nature to want to help your friends before helping strangers, but that attitude leads to corruption when people in positions of power practice it repeatedly.
fennecfoxen 5y ago
Don't worry! Cronyism can be a symptom of too much public power, too! Did you think that Chinese firms thrive on merit, or access to cheaper-than-free capital supplied by political connections?
- jacknews 5y ago
  Yes, when I wrote 'private power', I really meant 'personal power'. Some of the worst cronyism is in so-called communist countries.
mostertoaster 5y ago
Capitalism will lead to wealth inequality even apart from cronyism. Yet in general it makes a populace who tries it, more fat, and grants a life of more pleasure, than any of its counterparts. This itself might be bad for a nation though. First you get a bunch of people in government who think they should get a percentage of that wealth made by the merchants (just like the feudal lords of old) Second, the nation becomes so wealthy it has to just keep consuming more and more, and at some point people start having to come up with insane ideas, and gladiator sports, and just become a bunch of addicts because life has no purpose and is too easy. I think I’m personally ready for some socialist/communist policies so people in my country can experience some actual suffering, and maybe even go hungry, and then at least they will stop talking about the pointless crap they always go on about it.

umvi 5y ago

Pretty much every form of government/economy has cronyism problems. Crony capitalism, crony socialism, crony communism, crony dictatorships, etc. all exist. It's human nature to want to help your friends before helping strangers, but that attitude leads to corruption when people in positions of power practice it repeatedly.

fennecfoxen 5y ago

Don't worry! Cronyism can be a symptom of too much public power, too! Did you think that Chinese firms thrive on merit, or access to cheaper-than-free capital supplied by political connections?

jacknews 5y ago
Yes, when I wrote 'private power', I really meant 'personal power'. Some of the worst cronyism is in so-called communist countries.

mostertoaster 5y ago

Capitalism will lead to wealth inequality even apart from cronyism. Yet in general it makes a populace who tries it, more fat, and grants a life of more pleasure, than any of its counterparts. This itself might be bad for a nation though. First you get a bunch of people in government who think they should get a percentage of that wealth made by the merchants (just like the feudal lords of old) Second, the nation becomes so wealthy it has to just keep consuming more and more, and at some point people start having to come up with insane ideas, and gladiator sports, and just become a bunch of addicts because life has no purpose and is too easy. I think I’m personally ready for some socialist/communist policies so people in my country can experience some actual suffering, and maybe even go hungry, and then at least they will stop talking about the pointless crap they always go on about it.