Acton Institute Powerblog Archives

Post Tagged 'Crony capitalism'

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.” This author, having visited the city many times, can confirm that description. 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...

Does capitalism always become crony?

Mark Zuckerberg has finally admitted he needs help. From the government. After years of shady dealing, data collection, and intentionally designing addictive technologies, Zuckerberg has asked the government to regulate tech. Continue Reading...

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...