GM, QE3, and Crony Capitalism by Randall Holcombe

Archive for September 14th, 2012

GM, QE3, and Crony Capitalism »

By Randall Holcombe | Friday September 14, 2012 at 9:39 AM PDT | 6 Comments

Yesterday on The Beacon I noted that the Federal Reserve’s new “quantitative easing” measure, QE3, is an example of crony capitalism: the use of public policy to increase the profitability of specific firms and industries. Today I want to compare QE3 with another example of crony capitalism to reinforce the point. General Motors provides...
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Tags: Bailouts, Corporatism, Corruption, Defense, Economics, Federal Reserve, Government subsidies, Integrity, Money and Banking, Politics, The State


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Archive for September 14th, 2012

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