It’s pretty tough to compete when the force (and wallet filled with taxpayer dollars) of the federal government is on the side of your rival in the marketplace.
And not only is crony capitalism bad for competitiveness, the consumer, and society generally, it can even occasionally kill people.
(From The Washington Free Beacon)
Federal and state governments are using seemingly unlimited tax bases to compete with private businesses, disrupting the free market and even endangering troops, according to a new report.
The Business Coalition for Fair Competition, which represents a broad base of trade associations, released an analysis on Friday morning documenting 10 times public sector entities have hindered the free market by injecting government-backed entities into competition.