LOL.....so much for the "he's a Marxist Socialist" mantra.Crony capitalism is not true capitalism. It is a perversion favored by those in political power.http://en.wikipedia.org/wiki/Crony_capitalismIt is possible to engage in crony capitalism - or crapitalism - while at the same time, promoting socialist or marxist policies.Crony capitalism actually helps the socialist/marxist in two ways. It buys support from those who benefit while at the same time casting capitalism in a bad light. The socialist/marxist can say "hey look at how unfair capitalism is" when the rich get richer from cronyism. Of course, in true capitalism, the rich wouldn't have unfair advantages from cronyism.The most prominent socialist/marxists were/are experts at cronyism. Under socialism/marxism, government is empowered while individual rights/freedoms are crushed. This happens under the guise of a "fairer" or more equal society. The net result is a pseudoegalitarian society where cronyism confers wealth. Those who are politically connected are enriched while everybody else is consigned to poverty. This is contrast to capitalism where merit confers wealth and most people are prosperous despite greater disparity in wealth.dave
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra