If we ended crony capitalism (a good goal, but it likely it can only be reduced – but perhaps drastically) it would indeed help the plight of the global poor. Countries which are poor are always rife with cronyism. The established powers that be, which control the government, loot the rest of the country. It is the natural tendency of humanity, but this natural tendency must be fought. If we want broad prosperity cronies must be brought to heel and hiding places for cronies eliminated. Including and perhaps especially in this country, which was founded on liberty and opportunity.
(From The Washington Examiner)
For instance, we all want a surgeon who has received some sort of certification that she is competent to practice medicine. But oftentimes, occupational licensing is merely a way for established businesses or industries to use the power of the government to reduce competition.
It is also one of the fastest areas of growth for cronyism. In the 1950s, only one in 20 U.S. workers needed government permission to pursue their chosen occupation. Today, it is closer to one in three. Research has shown that licensing neither protects public health and safety nor improves products and services. But it is highly effective in limiting the number of people who can create a job for themselves and earn a livable wage.