Sunday, February 26, 2012

Crony Capitalism vs. Free Market

Faux Hair and Faux Diamonds
Crony Capitalism is to Free-Market as Faux Diamond is to gemstones.

Capitalism, in its general usage today, means the same thing as crony capitalism. There is nothing Free-Market about it. Granting a government power to make special fiscal favors serves no function in a Free-Market system, it is anti-Free-Market.

Also note, when a Socialist spews a 'definition' of Free-Market, rest assured that it will be the definition of a perfect market, not a Free-Market.  A Free-Market does not assume instant, perfect information for all.  Arbitrage exists in a Free-Market, it is impossible in a Perfect Market.

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