Tuesday, August 30, 2011

Sarah Palin, Dick Cheney and Crony Capitalism -- Is Sarah Palin The Crone Of Crony Capitalism?

by Nomad

Up until the sudden silence in the wake of Joe McGinniss' "The Rogue, Sarah Palin had been recently making charges against the Obama Administration’s so-called “crony capitalism.” I doubt whether she could define exactly what she meant but cronyism is, according our good friend Wikipedia, “ a partiality to long-standing friends, especially by appointing them to positions of authority, regardless of their qualifications.”

Adding the tag “capitalism” it suggests the use of government intervention in the economy to benefit supporters and punish his opponents. It is the biased selectivity of rewards doled out by government, either in terms of positions of power, awarding of contracts or financial benefits. This also includes limiting the competition through regulations on private businesses that are strictly enforced on opponents of the government, and not enforced on supporters of the government.