Saturday, May 19, 2012

Quote of the day: The problem with crony capitalism

This bon mot by Charlie Pierce could stand by itself:
The problem with crony capitalism isn't the capitalism, it's the cronies.
But it gets better and better, so you get a two-fer:
The cronies take the capitalism out of crony capitalism, which is why it can flourish under ostensibly Communist systems, like China or the old Soviet Union, as well as it can flourish here. The cronies limit your vision. They cosset you against the world. They help you avoid the downturns and vicissitudes to which all of us fall heir. They can give you a false sense of how smart you are and, in turn, how much wealth and success are things that are yours by right, rather than things that you earn. They can turn you into George W. Bush. This is in no way a good thing.
And it gets even better and better and better from there, because it quickly becomes a Romney family story.

Seriously. Follow the link and see.

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