Casual Friday: Crony Capitalism
While liberal activists in America portray capitalism as something to be denounced they rarely admit its presence is responsible for a wide array of possibilities including their ‘right’ to disagree. Allowing individuals the freedom to exercise their God given potential to pursue their dreams is a noble policy indeed. The benefit to all in a society that promotes capitalism is the contribution of those citizens who exercise that freedom.
Americans satisfied with the options available as an employee of a given company can be successful. Developing a skill set that is in demand can allow anyone to earn a living capable of providing a rewarding life. You can own a home. You can raise a family. You can send your kids to college. You can achieve the American dream.
That situation exists because there are those who strike out on their own. They are driven by a desire to achieve success through a different scenario. These are the entrepreneurs, pardon my French, who drive the growth of the American economy. It is the argument that defends capitalism. These are people who make the American dream possible for everyone else.
The bonus is you can choose to be in either group. You can develop a skill set that allows you to earn the American dream working for an employer or you can launch an enterprise that allows you to provide the American dream for yourself and others. How can anyone accept the liberal activists assertion capitalism is bad?
Most people play by the rules and have the character to do the right things. There are those who do not. A popular phrase provides a good example of not playing by the rules. Crony capitalism allows special favors to be dispensed to some simply because of their relationships with others in positions of power.
Stories like Solyndra and a longer list of ‘green’ companies who received special deals from the Obama Administration are recent examples of crony capitalism. Billions of taxpayer dollars were loaned out to questionable companies and lost when the inevitable happened. They went bankrupt.
Crony capitalism does not define a form of capitalism but a rejection of capitalism itself. If the activists denouncing capitalism want a target they should redirect their efforts against those like the crony capitalists described here. But it would be better for everyone if they simply got a job or started a company to promote the American dream rather than try to destroy it.
Stanford Matthews
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