Arthur Brooks and Daniel Rothschild at the American Enterprise Institute write a short but compelling piece about the threat of cronyism to our country:
Statism and cronyism are fundamentally about the same things: Letting political power allocate economic resources rather than markets. Both reduce competition and entrench stagnation. They hurt ordinary consumers, squash the process of creative destruction, suffocate honest entrepreneurs, and make America more like Greece. Cronyism is not free enterprise, it’s not fair, and it’s not the American way.