Crony capitalism

TechDirt has a notion that an honest journalist (there are some) could use to start investigating public-employee corruption: Cities that ban ride-sharing to protect their licensed taxi companies. Such as lefty Seattle.

Crony capitalism (as opposed to free-market capitalism) is about bribing pols to get them to outlaw competition—or favor one group over another. Much like Worm’s handouts to those wind and solar companies which promptly went belly-up. It’s fair to assume some of their money went back to him and his cronies or was so explicit in the deal that the money never left their pockets.

Not that we’ll likely ever know. There’s a limit even to “honest” journalism. Fear of being labeled “racist,” for instance. And worse, when their fellow Democrats are involved.

Via Instapundit.

One response to “Crony capitalism

  1. Crony capitalism – we are full of it here. It is not necessarily about direct money handouts, though. Frequently it is about use of the influence the moguls usually have to spare and a right word in a right ear when it is needed. Oh, and of course, a cushy job after your political career is over…