At the Post-Dispatch [1] DJmic, a libertarian, defines “crony capitalism”:
In crony capitalism, government hands out special favors and protections to politically well-connected businesses. The TARP bailouts, Solyndra, and the military-industrial complex are all facets of crony capitalism.
Libertarians love free markets and hate crony capitalism.“Unfortunately, hypocritical Republican politicians have taught a lot of Americans to think that ‘free markets’ means freedom for government and big business to engage in crony capitalism.
“That’s not what free markets are. A free market is where the government leaves businesses alone, does not attempt to pick winners and losers, does not stifle competition, does not hand out corporate welfare, and does not absolve businesses of liability for their actions. Most of our economy today does not resemble a free market at all.
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