Cronyism and Corporatism

Useful goods and services, and the productive resources needed to create useful goods and services, are wealth. Money is not wealth, and creating more money without first creating wealth is a big problem. 

We are witnessing the governmentalization of private industry, the turning of supposedly private enterprises into state apparatuses, and the growth of the state through putatively private extensions of it.

What's a telltale sign of economic illiteracy? I'm starting to believe the worst is the claim that markets lead to monopoly and the accumulation of wealth in a few hands.

Twenty years ago, it looked like Chile was well on its way to joining the world's small club of developed countries. But this path looks less and less likely as Chile abandons its commitment to freedom and markets.

Governments that redistribute wealth and regulate our daily lives are inherently corrupt. We cheapen the word "corruption" when we reserve it for just a few politicians who break the arbitrary rules.

Governments that redistribute wealth and regulate our daily lives are inherently corrupt. We cheapen the word "corruption" when we reserve it for just a few politicians who break the arbitrary rules.

In recent decades, active generals and retired generals have grown into a group of politically influential technocrats who are regularly feted in the media as incorruptible experts.

Dr. Damian Carabello discusses the depths insurance companies go to make sure they end up on top.

Europe's path to long-term stagnation should serve as a reminder for the United States, again, of why it is not advisable to follow the eurozone policies. The results are invariably disastrous.