Acton Institute Powerblog Archives

Post Tagged 'Cronyism'

Subsidies or tax breaks, both are cronyism

Last week, President-elect Donald Trump along with Vice President-elect Mike Pence, who is the current governor of Indiana, struck a deal with United Technologies, the parent company of Carrier, in order to save over 1,000 jobs from being sent from Indiana to Mexico.  Continue Reading...

Graft and bribery are big government’s byproducts: EU studies

The nation of Spain is prosecuting 37 people – including former officials in the ruling center-Right party – for steering government contracts to their politically connected friends. It will not help the defense that the suspects gave themselves audacious, Godfather-inspired nicknames like Don Vito and “The Little Meatball.” While a disturbing example in itself, a series of studies show that corruption is becoming a growing threat in the EU – and the larger the government, the greater the level of perfidy. Continue Reading...

Washington showdown looms over Ex-Im Bank and cronyism

President-elect Donald Trump Sen. Lindsey Graham, Republican from South Carolina, wants to change the rules of one of the biggest crony capitalist organizations in Washington.  He wants to make it easier for the Export Import Bank to dish out large amounts of corporate welfare to companies such as Boeing, which already brings in revenues upward of $95 billion per year. Continue Reading...

Mike Rowe interviews Charles Koch on work, cronyism, and criminal justice reform

Mike Rowe was recently criticized for his new partnership with Charles Koch, CEO of Koch Industries, whose philanthropy for conservative and libertarian causes routinely garners controversy, despite its tremendous fruits. Rowe, himself an increasingly provocative figure, recently interviewed Koch on their core areas of collaboration, including work, the trades, cronyism, higher education, and criminal justice reform. Continue Reading...

The Harmful Effects of Protectionism

Photo courtesy of Wikimedia. What is the biggest economic problem that the U.S. is currently facing? Depends who you ask.  Some social justice warriors would tell you that capitalism is ruining our economy, yet many who have studied and understand economics would argue the opposite. Continue Reading...

Just how bad is crony capitalism?

The Bosses of the Senate, a cartoon by Joseph Keppler. First published in Puck 1889. Cronyism is ugly. It hurts the economy, it’s unjust, and corrupts the core of democracy.  “The damage that cronyism has inflicted on the economy is considerable,” Samuel Gregg writes in a new piece for Public Discourse. Continue Reading...

Is Donald Trump a mercantilist?

Being “pro business” doesn’t necessarily mean “pro free markets.” Reality TV star and wannabe Republican presidential nominee, Donald Trump reminds us of this. Writing for The Stream, Acton’s Director of Research, Samuel Gregg, argues that not only does Trump seem to be a mercantilist, but, if implemented, this medieval economic system would weaken the United States. Continue Reading...

Bernie Sanders Loves to Decry ‘Casino Capitalism,’ But What About Economic Freedom?

In last Tuesday’s Democratic debate, Senator Bernie Sanders stayed true to his famed aversion to capitalism, proclaiming the fanciful virtues of “democratic socialism.” Yet when prodded by Anderson Cooper — who asked, “you don’t consider yourself a capitalist?” — Sanders responded not by attacking free markets, but by targeting a more popular target of discontent: Wall Street and the banks. Continue Reading...

The Moral Crisis of Cronyism and Corporate Welfare

U.S. Rep. Justin Amash, in an article for www.mlive.com, discussed the recent charter expiration of the Export-Import Bank (Ex-Im) and how that is a good first-step toward reducing the corporate welfare and crony capitalism that has infected American politics and economics: If a man swipes your wallet, he’s a thief. Continue Reading...