Crony Capitalism

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)

Rick Newbold Written by:

Mr. Newbold has been working in the national security field since 2003 and has been an IAPP-certified privacy professional since 2007. He holds a JD from Regent University, an MBA from Thunderbird School of Global Management, and an LL.M. in National Security Law from Georgetown University Law Center. Mr. Newbold is currently pursuing his Ph.D. in Public Policy with a focus on National Security Studies. He has contributed to several national-level documents and participates in a number of public policy-related working groups.

Comments are closed.