Profile image
By Againstcronycapitalism.org
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

What is Crony Capitalism and what is bad about it?

Tuesday, February 28, 2017 21:11
% of readers think this story is Fact. Add your two cents.

(Before It's News)

People around the world are coming to understand what crony capitalism is. This comes to us from Australia. The author still has a bit too much faith in government but generally he gets it.

(From Australia Unwrapped)

In genuine capitalism, an individual takes a risk and invests their funds, expertise and time on a given venture to solve a problem in society or provide a valuable service in exchange for profit. Genuine capitalism allows free trade and private ownership of property. In its pure form, genuine capitalism allows for human progress and leads to innovation.

Crony capitalism, on the other hand, is an economic system that thrives because of the close connection of a few individuals in the private sector with the movers and shakers in government. Since the government acts as regulator and an arbiter of justice in the market, having the close ear of the most important officials in the government can give an individual or a business an upper hand over competitors.

Click here for the article.

http://www.againstcronycapitalism.org/



Source: http://www.againstcronycapitalism.org/2017/02/what-is-crony-capitalism-and-what-is-bad-about-it/

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

 

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.