Enron, of course, is exactly the kind of corporation which could not exist in pure capitalism. As a creature, in effect, of politicians, it was deliberately converted from a small pipeline company into an international conglomerate by conniving scoundrels who designed it from the beginning to use the power of their politician-friends to give it government contracts, subsidies, monopoly powers, and favorable regulations to force prospective customers to do business with them, essentially at gunpoint. Obviously, this is fascism, not capitalism, and what you get more and more of when you work to transform what was once the rule of clear-cut law into the rule of men (especially agenda-driving, nuance-inventing judges and lawyers).
more Rick Gaber quotes
Government spending on business only aggravates the problem. Too many business have successfully lobbied for special favors and treatment by seeking mandates for their products, subsidies (in the form of cash payments from the government), and regulations and tariffs to keep more efficient competitors at bay. 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.
more Charles Koch quotes
Far from trying to rig the system, I have spent decades opposing cronyism and all political favors, including mandates, subsidies and protective tariffs -- even when we benefit from them. I believe that cronyism is nothing more than welfare for the rich and powerful, and should be abolished.
more Charles Koch quotes
The surest way to ruin a promising career in economics, whether professional or academic, is to venture into the 'cranks and crackpots' world of suggestions for reform of the financial system.
more Michael Rowbotham quotes
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