Crony capitalism is as old as civilization itself. There are varying degrees such as mercantilism, which was popular from the 16th to the 18th century. Alexander Hamilton was one of the biggest crony capitalist in American history. He submitted a two year report to Congress on the importance of government patronage and the use of tariffs to promote American industries. Hamilton’s version of crony capitalism brought about a civil war and is still in existence to this day.
Another version of crony capitalism are these private-public partnerships Democrats love to croon about. Progressives love the patronage system where they get to dole out taxpayer monies to their buddies. There is nothing more dangerous to prosperity than a politician pulling the levers of an economy. Some of their harebrained schemes are detrimental to civilization itself. One only has to take a gander at this Green New Deal to get an idea of their insanity. This eco-socialist facade isn’t about saving the planet; it’s about control over our lives.
What Democrats really want is China’s version of crony capitalism. Here is what the Chicoms are doing in Europe. Here is an excerpt from an article written by a Czech academic and director of China studies project:
It might have helped to look more carefully before accepting Beijing’s embrace. Some of the metaphors Chinese media have attached to the Belt and Road project are revealing. They often call it “globalisation 2.0”, or the “New World Order”. What that vocabulary struggles to mask is that the whole endeavour is driven far more by politics than by markets.
Deals are negotiated at state-to-state diplomatic summits. Open tenders are shunned. Contracts are awarded by political fiat. Ostensibly commercial companies put former politicians on their payrolls by the dozen. As it turns out, CEFC’s main investments in the Czech Republic weren’t economic, they were about buying up the loyalty of Czech officials. What China has to show for itself in my country is hardly innovation. Rather, it has brought us a new take on age-old crony capitalism.
I have a feeling this is exactly the type of economic structure Democrats want to force upon Americans. This isn’t crony capitalism; this is crony socialism.
Source:
https://www.britannica.com/topic/mercantilism
https://www.conservapedia.com/Mercantilism
https://www.washingtonexaminer.com/opinion/editorials/the-green-new-deal-is-about-power-not-the-planet
It might have helped to look more carefully before accepting Beijing’s embrace. Some of the metaphors Chinese media have attached to the Belt and Road project are revealing. They often call it “globalisation 2.0”, or the “New World Order”. What that vocabulary struggles to mask is that the whole endeavour is driven far more by politics than by markets.
Deals are negotiated at state-to-state diplomatic summits. Open tenders are shunned. Contracts are awarded by political fiat. Ostensibly commercial companies put former politicians on their payrolls by the dozen. As it turns out, CEFC’s main investments in the Czech Republic weren’t economic, they were about buying up the loyalty of Czech officials. What China has to show for itself in my country is hardly innovation. Rather, it has brought us a new take on age-old crony capitalism.
I have a feeling this is exactly the type of economic structure Democrats want to force upon Americans. This isn’t crony capitalism; this is crony socialism.
Source:
https://www.britannica.com/topic/mercantilism
https://www.conservapedia.com/Mercantilism
https://www.washingtonexaminer.com/opinion/editorials/the-green-new-deal-is-about-power-not-the-planet
https://www.theguardian.com/commentisfree/2018/apr/18/chinese-europe-czech-republic-crony-capitalism
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