Crony Capitalism: Principles (Part I)

Editor note: This post will be followed tomorrow by Part II: Crony Capitalism: Practice. On Tuesday, Robert Bradley will post on cronyism in the U.S. energy industry. To the great economists of free trade and free markets, capitalism meant laissez faire: “Let us compete free of government help or hindrance.” To Adam Smith and David [...]

Source: http://www.masterresource.org/2012/08/crony-capitalism-principles-part-i/