crony capitalism

Once upon a time progressives were outraged at the corporate welfare that the state of Florida and local government entities showered on Disney over the years.

The widespread cronyism we have in the United States is a foretaste of socialism in which the state supplants the consumer as the dominant force in the economy.

We have a massive and growing problem in America: It’s a moral issue, it explains why economic growth is anemic, and it’s bipartisan.

Remarks prepared for the international conference on the 25th anniversary of the formation of the “Warsaw 90 Coordination Centre,” on Oct. 23, 2015.

Crony capitalism is problematic all on its own.