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...

Cronyism Isn’t Just About Economics; It’s About Culture

According to Merriam-Webster, “cronyism” is ” the unfair practice by a powerful person (such as a politician) of giving jobs and other favors to friends.” For instance, former Detroit mayor, Kwame Kilpatrick, surrounded himself with friends and family members while in office, as he cheerfully plundered the city’s coffers, sharing the wealth with his entourage. Continue Reading...

G.I. Joe Vs. the Pentagon’s Crony Industrial Complex

When it comes to spending on national defense the political debate is often presented as a simplistic, binary contest between those who want to spend more and more (often conservatives, who want a strong military) and those who want to spend less and less (often liberals, who want to use the money for social welfare purposes).  Continue Reading...

Greeks Lurch Left

It gets really interesting now in the wake of Syriza’s stunning victory in yesterday’s Greek elections, widely interpreted as a populist rejection of austerity programs that could spread to other indebted European Union basket cases. Continue Reading...