Is it Michigan’s Crony Capitalists or Crony Socialists?
After reading Is it Michigan’s Crony Capitalists or Crony Socialists? you may agree that the “cronies” who are destroying the free market business climate in Michigan are not capitalists at all. Rather they are monopoly-forming socialists masquerading around as capitalists. Consequently, many concerned citizens see this cronyism and want change. They want to replace what they perceive as “crony capitalism” – with socialism.
When it comes to special government-granted privileges, the “too big to fail” multi-national Dow Chemical Company in Midland, MI. has an unmatched amount of influence in Lansing. It’s obvious they work very hard at preventing their most viable competition – the billion dollar cannabis and hemp industries, from returning to the state. Some may say this type of cronyism is legal and it’s just the way big money in business and government works.
But, as Dr. Charles Ormsby points out this isn’t crony capitalism – it’s crony socialism:
Highlights from Ormsby’s blog: Another Socialist Lie: Crony Capitalism
Ormsby: “In reality, crony capitalism is a logical impossibility. Because the special, government-granted privileges that are at the core of this problem contradict the very essence of capitalism and would never exist under capitalism.” (In other words, capitalism would never allow for these special privileges or monopolies.)
“In a capitalist society, individuals have the right to deal with others or not based on their own rational judgment. The government would have no power to interfere with a private commercial transaction… ” (What! The government would have no power to interfere..?)
“So how does the “crony capitalist” end up with his unearned wealth (and control)? Did the government provide special monopoly power or restrict competition? Did the government give special tax advantages or burden his competitors with onerous regulations? If so, he is a thief and a beneficiary of socialism. If he supports the system that gave him these privileges he is not a capitalist, he is a socialist.”
So, Is it Michigan’s Crony Capitalists or Crony Socialists? According to Dr. Ormsby’s definition – Michigan is filled with crony socialists. Continue reading “Is it Michigan’s Crony Capitalists or Crony Socialists?”