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Posts tagged crony capitalism

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Capitalism or crony capitalism - what’s the difference?

“Crony capitalism means that your success as an entrepreneur depends less on how well you meet your costumer’s needs and more on how well you curry favor from the government.  And its a problem because it means that valuable resources including the best and brightest minds are diverted from productive uses towards unproductive — seeking government favors.”

— Susan Dudley, Director of Regulatory Studies Center 

Filed under capitalism crony capitalism crony economics liberty freedom ows