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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:

CURRENT ISSUE

May 2013

From natural systems to human systems, we start to notice patterns in nature that are products of good flow. Adrian Bejan discusses this crucial insight--and how it makes freedom even more needful--in this month's interview. Zachary Caceres looks at what emergence can tell us about the universe, the market, the heart, and the sacred; Mike Reid recounts the tragedies produced when the State tries to impose its order on people who have already developed their own; Gary Galles channels Leonard Read: the State is a clenched fist, he says, so it cannot create; Brad Taylor says democracy might just be another imposed order in some situations; Karl Borden wonders whether an individual's right to be left alone can be part of the order of things; and much, much more.Download Free PDF

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