Tag: Corporatism

Once More, with Feeling: Our System Is Not Socialism, but Participatory Fascism »

I continue to encounter many discussions in which the author or speaker bemoans the economic order’s drift toward socialism or, in some cases, its actual existence as such. If this characterization were simply a matter of linguistic imprecision, it might not matter much. But it is much more than a matter of terminology, because…
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QE3: An Example of Regulatory Capture »

One of Nobel Laureate George Stigler’s best-known articles is his “The Theory of Economic Regulation,” in which he argues that over time, regulatory agencies that are designed to regulate industries for the public interest become “captured” by the industries they are supposed to regulate. Stigler’s “capture theory of regulation” concludes that regulators end up…
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GM, QE3, and Crony Capitalism »

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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Groundbreaking New Book: Priceless: Curing the Healthcare Crisis, by John C. Goodman »

We are very pleased to announce the publication of our very timely, widely acclaimed, and compelling, new book on how to get beyond partisanship and special-interest politics to resolve one of biggest issues facing us today, Priceless: Curing the Healthcare Crisis by our Research Fellow John C. Goodman. Dr. Goodman is the renowned, free-market,…
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President Obama’s Energy Policy: Green Energy, Or Crony Capitalism? »

Today President Obama was advocating the renewal of wind energy tax credits to promote green energy. Meanwhile, last week the Obama administration placed a 31% tariff on the importation of solar panels from China. So, is he for green energy, as the wind energy tax credit would suggest, or against it, as his raising…
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Why Do Politicians Pander? Because It Works. »

How has the vision of our forebears—of men and women, black, white, and every other complexion, standing tall, shoulder to shoulder, in free and full access to equal opportunities and enjoying the blessings of equal rights in the sanctity of our persons and property—devolved to skirmishes among dependent subjects of the state over the…
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Modern Conservatism = Rightwing Progressivism? »

Mary’s post perfectly exposes the key problem with these progressives. No objective moral standards. No basic respect in human dignity. One thing that troubles me about the political climate is just how extensive this moral bankruptcy is. Glenn Beck did a service in demonstrating the collectivist ethical situationalism of progressives to a whole generation…
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Why Did People Wait More than Sixty Years to Get Upset? »

In a post at The Beacon two days ago, I called attention to President Barack Obama’s executive order issued last Friday, March 16, which relates to the fact that, to quote my post’s title, “the specter of centrally planned economic fascism continues to hover over the United States.” In my post, I noted that the…
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Biden Boasts: We Support Crony Capitalism »

Last week I posted a blog about crony capitalism, with the suggestion that crony capitalism is undesirable. The next day Vice President Joe Biden was bragging that he and President Obama support crony capitalism, as if crony capitalism is a good thing. Mr. Biden was criticizing Republican presidential candidates for their opposition to the…
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The Specter of Centrally Planned Economic Fascism Continues to Hover over the United States »

During World War II, the U.S. government created and operated a system of fascist central planning. (I have described this system in my books Crisis and Leviathan and Depression, War, and Cold War.) After the war, much of this system was abandoned, but it was revived in large part during the Korean War, and…
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