Interesting observation... When debating free market folks you find them quick to dismiss the current cronyism as non capitalism. Using military contractors in the US as an example theyll say that the bidding system is rigged through lobbying... Problem is they defend lobbying. Its not a true free market theres no real competition ok .. But isnt that because the last waves of capitalists created this cronyism? Isnt the corruption and lobbying the result of business influencing government? How do you at once decry regulation as you at the same time cry cronyism? What business sets out looking for competition? Which Hayek model is based on Egalitarian competition? Isnt the end goal of competition any competition to win? To be best? In business that manifests itself in consolidation and buy outs when one competitor beats the other... Without direct regulation how can a capitalist mechanism not devolve into cronyism?
Posted on: Thu, 24 Oct 2013 12:27:28 +0000
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