Free market believers don't like it when governments pick winners and losers in the market. They would prefer customer demand drive market outcomes, rather than leave it in the hands of a few power brokers with favors to sell, to decide which business interests will win, and which will lose.
This doesn't mean there is no room for government intervention in any market, but that we need to keep a close eye on how money and influence is used to distort the legislative process to favor certain players.
CRONY CAPITALISM happens when business interests pay off politicians and government officials to do THEIR bidding and create markets to THEIR taste, rather than doing the bidding of THE PEOPLE and creating markets that work for ALL.
This results in unhealthy, protected markets that deliver poor community outcomes, with high prices, poor quality and poor availability, through strangled competition.
When large amounts of money are on the line there is a concerted effort to convince the public that the current situation, or the one being lobbied for, is not only in the public's best interest, but is an absolute no-brainer to proceed with (i.e. so people don't think about it critically).
With governments and media are open to being BOUGHT we have a situation where the public can be brainwashed into supporting an outcome that is not in their best interest.
We see this happening all around us.
The only solution is for people to wake up to it, because no media personality or politician is going to do it for you.
No comments:
Post a Comment