Today’s Wall Street Journal op-ed by Charles Koch takes a sobering view of the problem of crony capitalism in America today. In so doing, he defends the defense of free markets that Koch has been criticized for. Koch notes that
“Crony capitalism is much easier than competing in an open market. But it erodes our overall standard of living and stifles entrepreneurs by rewarding the politically favored rather than those who provide what consumers want.”
corrected: dated March 1 online, linked here as well.
