915 waivers so far!!!
Can anyone say: CRONY CAPITALSIM?
Let me dissent sharply from that conventional wisdom and argue that what talking heads are calling "capitalism" is actually "crony capitalism" and that it is crony capitalism that is responsible for most of our current economic difficulties.Crony Capitalism Is NOT Capitalism
A genuine capitalist economy assumes that each adult individual and business is free to buy and sell anything that they own and then keep the rewards (or suffer the losses) of enterprise. The only legitimate role for government (the political system) is to protect property rights, that is, to enforce contracts and prohibit theft and fraud.
So under capitalism, there would be no price controls on milk or mandates to purchase health insurance; BUT polluters who spill crude oil or corporate bandits like Bernie Madoff who commit blatant frauds would be prosecuted to the full extent of the law.
Crony capitalism, by contrast, assumes a far, far larger role for government in the economy. . .
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