Thursday, September 6, 2012

Video: I Want to Be a Crony

The Crony Chronicles describe cronyism like this:
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.
I'd put it more succinctly: cronyism burdens the general welfare in order to benefit the particular welfare of favored interest groups and donors.

No comments: