Acton Institute Powerblog Archives

Post Tagged 'Crony capitalism'

Orban Is Running Out of Other People’s Money

There once was a time when foreign investors regarded Hungary as the tax haven of the European Union. Boasting a low corporate tax rate, a new flat tax, and most importantly for many investors massive subsidies from the Hungarian government to “create jobs,” this was Hungary’s claim to fame. Continue Reading...

America suffers from economic nationalism

One of the biggest political upheavals in America over recent years has been a resurgence in economic nationalism. Given the amount of regulation with which it is burdened, America’s economy can hardly be described as laissez-faire. Continue Reading...

How the $15 minimum wage accelerates community decline

As Congress debates the specifics of yet another stimulus bill, President Joe Biden and Sen. Bernie Sanders continue to push for the inclusion a $15 federal minimum wage – a policy that is only likely to prolong pandemic pain for America’s most vulnerable businesses and workers. Continue Reading...

COVID-19 and crony capitalism

Who wins in the COVID-19 economy? In some cases, outright fraud allows businesses to prosper. In other cases, political connections enable businesses to collect revenue from the federal government. Crony capitalism is defined by the Mercatus Center as “an economic system in which the profitability of firms in a market economy depends on political connections.” Continue Reading...

Government funds bring corruption to Mayberry

Front Royal, Virginia, is just 70 miles from Washington, D.C., by road but a million miles away by culture. One resident described the town, which bills itself as “the northern gateway way to the Shenandoah Valley,” as “sort of like Mayberry.” Continue Reading...

Bailouts, moral hazards, and the scapegoating of the taxpayer

If pandering is the politicians’ pastime, then we owe a special debt of gratitude to those who resist this seemingly irresistible force. Today, UK Prime Minister Boris Johnson confirmed that he refused to extend a £150 million government bailout to prevent Thomas Cook, the world’s oldest travel agency, from going bankrupt. Continue Reading...