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Blame Cronyism, Not Capitalism

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Re: Blame Cronyism, Not Capitalism

#4

Post by ajuc »

That's like saying blame authoritarianism not communism. Communism led to authoritarianism in every country where it was tried. Blaming one means blaming the other indirectly.

Same here.

Re: Blame Cronyism, Not Capitalism

#7

Post by PaulHoule »

Miner49er wrote: post #3

Cronyism is the logical conclusion of capitalism.

Capitalism is not "markets", people have had markets at least as long as we've had agriculture. Capitalism is markets in pieces of paper such as government bonds, tulip futures, corporate stock, etc.

Capitalism is a great platform for cronyism because it accumulates huge amounts of wealth in one place. Without capitalism the wages of corruption would be much less.

Re: Blame Cronyism, Not Capitalism

#8

Post by bvaldivielso »

Miner49er wrote: post #3

Cronyism is the logical conclusion of capitalism.

Could you elaborate how? Is this specific to capitalism? or is cronyism the logical conclusion of any societal system that lasts for a while? For example, and just to choose an example that is obviously not capitalist, would you say cronyism wouldn't happen in a communist society? As far as I understand, it very much happened in the URSS. I'm not bashing on communism, just trying to understand your statement.

Re: Blame Cronyism, Not Capitalism

#9

Post by episode0x01 »

Not a shocker that corruption ruins things. I guess then the question is how you can design a broadly distributed system that removes the incentives for corruption and minimizes its impact. My guess is that such a system won't be found in capitalism
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