In a column that I wish everyone would read, John Stossel argues that the statements from leftist intellectuals and politicians that capitalism is to blame for our economic woes is flat-out wrong. We mostly have a “crony capitalism” economy, dominated by politically connected businesses and ubiquitous government intervention in nearly all markets.
Stossel points to Tim Carney’s excellent book The Big Ripoff, which shows beyond any doubt that both political parties are deeply immersed in crony capitalism. The Democrats aren’t for “the little guy” but are for the cronies that put up big bucks to elect them. Republicans aren’t for “free enterprise” but are for the cronies that do the same for them.
The Republicans lost their cover during the Bush II years and were given thumbs down by the people. With help from Stossel, Carney, and others, the same thing is happening to the Democrats right now. People are discovering that what they say and what they do are two entirely different things.
