Wednesday, April 21, 2010

The Crony Capitalist Threat to Our Economic Freedom

Heritage   Quoting the Wall Street Journal: "Distorted prices and interest rates no longer serve as accurate indicators of the relative importance of goods. Crony capitalism ensures the special access of protected firms and industries to capital. Businesses that stumble in the process of doing what is politically favored are bailed out. That leads to moral hazard and more bailouts in the future. And those losing money may be enabled to hide it by accounting chicanery."

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