Showing posts with label Book notes. Show all posts
Showing posts with label Book notes. Show all posts

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.