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Cronyism

In this module, you’ll learn how governmental favors (or cronyism) impede the function of the free market.

What is Cronyism?

"Cronyism diverts resources away from the wants and needs of consumers and toward political purposes. Cronyism occurs when an individual or organization colludes with government officials to create unfair legislation and/or regulations which give them forced benefits they could not have otherwise obtained voluntarily. Those benefits come at the expense of consumers, taxpayers, and everyone working hard to compete in the marketplace." (via CronyChronicles.org)

Cronyism in the Tax Code by EconomicFreedom.org:

 

Sheldon Richman, former editor of The Freeman, on government favors and cronyism:

Related Freeman Articles

GIVE ME A BREAK!

Big Government’s Cronies

APRIL 20, 2010 by JOHN STOSSEL

ARTICLE

Is Capitalism Something Good?

APRIL 16, 2010 by SHELDON RICHMAN

Earlier this week I attended the annual meeting of the Association of Private Enterprise Education in Las Vegas to participate in a panel with the intriguing title "Free-Market Anti-Capitalism?"

ARTICLE

Capitalism and Democracy

NOVEMBER 01, 2006 by ARTHUR FOULKES

Democracy and liberty can coexist only if public opinion favors private property rights and individual freedom over coercion.

Related Multimedia

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July/August 2014

The United States' corporate tax burden is the highest in the world, but innovators will always find a way to duck away from Uncle Sam's reach. Doug Bandow explains how those with the means are renouncing their citizenship in increasing numbers, while J. Dayne Girard describes the innovative use of freeports to shield wealth from the myriad taxes and duties imposed on it as it moves around the world. Of course the politicians brand all of these people unpatriotic, hoping you won't think too hard about the difference between the usual crony-capitalist suspects and the global creative elite that have done so much to improve our lives. In a special tech section, Joseph Diedrich, Thomas Bogle, and Matthew McCaffrey look at various ways these innovators add value to our lives--even in ways they probably never expected.
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