The real beneficiaries of free markets are consumers and ordinary workers, but they unfortunately lack the political clout of Big Business. Government economic intervention can lead businesses to curry favor with government officials in an attempt to limit competition, which is the ultimate goal of crony capitalism. In turn, taxpayers are forced to sponsor this behavior in the form of increased taxes or additional debt. This paper highlights key economic interventions and the multiple facets of crony capitalism as engendered by statist economic interventions. Finally, the paper evaluates statist intervention and speculative finance in the context of the Biblical model of economic statesmanship.
Access the article here: 2022-02-13 NatSecJournal -Crony Capitalism (Newbold)