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
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?"
NOVEMBER 01, 2006 by ARTHUR FOULKES
Democracy and liberty can coexist only if public opinion favors private property rights and individual freedom over coercion.