Emergent Order has created a rather hilarious video about cronyism: using their government powers, these ‘Kronies’ use bailouts and mandates to overcome the entrepreneurs.
The Independent Institute summed up some of the farm subsidies effecting thanksgiving dinners:
Altogether, we estimate that in giving the U.S.’ multi-billion earning corn, wheat and dairy producers so many billions of dollars, the U.S. government reduces the direct cost to consumers of a traditional Thanksgiving dinner by about 27.4 cents, with about twenty-six and a half cents of that to produce the corn that was used to feed the turkey.
In order to help you awake from you avian-induced holiday slumber, we thought we’d post the Townhall column on Thomas Sowell’s greatest quotes. There are timeless nuggets of wisdom throughout Professor Sowell’s many books, and some of the best are here:
Thomas Sowell is not only one of the finest columnists in the business, he’s a prolific author, a brilliant economist, and he has an incomparable knack for simplifying complex concepts that few other human beings can match. Enjoy the distilled wisdom!
We’re excited that our ‘I Want to Be a Crony’ video is a finalist for Reason’s Media Awards! The video was created by Owen Brennan, Justin Folk, and Robert Perkins.
Here it is, for your viewing pleasure.
The Foundry has found fifteen absurd cases of government activity. By no means is this an all inclusive list, but it’s a great starting point. My favorite example is the $300,000 spent by the USDA on caviar promotion in Idaho.
Ryan Young from OpenMarket.org has posted his latest blog-post in which we see the latest great investment that Arlington, Virginia has done.
Arlington, Virginia, recently caused a national stir when it built a $1 million bus stop. The prototype “super stop” was intended to be a model for future stops along Columbia Pike.
While the super stop does have a heated concrete floor, it is only partially enclosed, so it doesn’t shelter riders from wind. Riders also quickly found out that its rakishly angled roof doesn’t keep rain out. They still got wet.
The National Legal and Policy Center has called out the US Chamber of Commerce for cronyism with its website Faux Enterprise, and BuzzFeed, with its 50 million unique visitors per month, is listening.
BuzzFeed did a story on Faux Enterprise’s parody of the Chamber’s campaign, On the Road with Free Enterprise. This two month campaign seeks to “tell the story of free enterprise and what it means to the American economy.” Its chief sponsor is General Motors, one of the most egregious offenders of crony capitalism in history. Faux Enterprise mocks the idea of General Motors being associated with free enterprise and explains the difference between being pro-business and pro-free enterprise:
“Government Motors – still partially owned by the United States Treasury – is the absolute worst poster child imaginable for free market vibrancy. The taxpayer-owned company’s sponsorship of the U.S. Chamber of Commerce’s Free Enterprise campaign should be viewed by American taxpayers as a bad joke.”
JR Ball, a writer for the Baton Rouge-based publication Business Report, discusses the latest goodies that a private enterprise is receiving from a local government. Costco is the latest beneficiary from the race to the bottom that showers corporations with tax benefits with the hopes of attracting them to their town:
The three great issues of our time in the Capital Region are these: 1) protecting our turf in the global economy by using any government means necessary to score jaw-dropping wins in the retail and hotel sectors; 2) whether the luring of big-box behemoth Costco secures Baton Rouge a much-coveted seat at the exclusive table of world-class cities (out of our way, Venice!)