Moneynews: US Has Morphed Into ‘Crony Capitalism’

cronys in line

It has. But it’s not the endgame. Free market capitalism, with the free movement of prices is what our economy needs. In a sped up world innovators may be able to make end runs around the crony capitalist system. They may overwhelm the state/corporate dynamic. But as we wrote over the weekend, it will take a lot of work.


Author Jordan Mamorsky cites a worldwide “holistic lapse of ethics,” with consumers, ratings agencies and Wall Street’s casino culture coming under fire.

“We are now at the end of ethics because you have seen so many financial swindlers,”

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