Tuesday, March 26, 2013

Crony Capitalism and the Crisis of the West

Souce: Crony Capitalism Luigi Zingales at the Wall Street Journal describes the symptoms of cronyism.

High deficits, high debt and unsustainable entitlements are symptoms of a common disease infecting Southern Europe and the U.S. That’s crony capitalism, a problem with which I, having lived in Italy, am unfortunately familiar.

Crony capitalism isn’t the free market. Worse it is an offense against justice and detrimental to all especially the poor.

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