“Crony” capitalism is an inevitability in a capitalist system. If someone gets enough wealth and power they will buy government influence. It’s actually an expression of the “free market” that they can buy a service that’s useful to them. Even within the private sector, powerful companies will form cartels to control the market. The only way out of this is government intervention.
“Crony” capitalism is an inevitability in a capitalist system. If someone gets enough wealth and power they will buy government influence. It’s actually an expression of the “free market” that they can buy a service that’s useful to them. Even within the private sector, powerful companies will form cartels to control the market. The only way out of this is government intervention.