This is encouraging to see. People more and more are coming to understand not only what crony capitalism is and why its bad, but also the need to fight it.
(The) UK Environment Secretary Michael Gove has declared war on crony capitalism.
He won’t get any credit for this – not while we are (quite justifiably) hating on his dog’s vomit-pool of a government for its despicable failure in implementing Brexit. But he should because what he’s saying is important.
Here is what he told the Policy Exchange think tank:
Economic power has been concentrated in the hands of a few and crony capitalists have rigged the system in their favour and against the rest of us.
Over recent decades, debt has fuelled growth in an unsustainable fashion – indeed growth has been built not just on irresponsible levels of borrowing but an unsustainable approach towards natural resources.
‘Our politics, culture and regulatory models have worked against innovation, indeed have been pushed in that direction by powerful incumbents.
‘Many of our fellow citizens, especially those without the qualifications and connections to work the existing system, have seen less and less value placed on their work and themselves.’