Report: ‘Crony Capitalism’ Hurts the U.S. Economy

Newsflash!

the Hill cc

It is great to see other organizations addressing the issue of crony capitalism. Keep shining that sunlight.

(From The WSJ.com)

In the report, the organization calls for curbs on the so-called revolving door between Congress and lobbying firms and for overhauling the campaign-finance system, two popular ideas on the 2016 campaign trail.

The report, titled “Crony Capitalism: Unhealthy Relations Between Business and Government,” says the spiking cost of running campaigns, combined with lobbyists’ mounting influence in Washington, have “exerted an important toll on the U.S. economy.”

If left unchecked, crony capitalism will continue to sap vitality from the economy,” the report says. “It also will continue to undermine public support for the American model of capitalism. This adds urgency to the task of finding solutions to the rise of crony capitalism.”

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