Tuesday, May 21, 2013

"Crony Capitalism" Is An Affront To Capitalism

What is the best term for our current system that has merged corporate and federal state power (not to mention, devolved to the local level of business and town power)?

I had settled on "crony capitalism," but I am uncomfortable with including capitalism in the term, because the behavior or activity is more about privilege than capitalism.

An element of our current system is "socialism," but that only describes a portion of the system. Socialism seems to only served as a panacea for the masses - and a weapon to wip free-market actors.

"Fascism" seems to be what I constantly return to. Mussolini was purported to have called it "corporatism," but "corporatism" can refer to an entirely state-run or civic entity, and Mussolini probably didn't say the quote anyway. Also, "fascism" is such a loaded term with connotations with rabid nationalism (though our system is nationalistic, e.g. "community of nations" crap, etc.) and racism (the current use of race bating and urban-favoring rhetoric illustrates the fault in that vein of the current federal administration).

"Corporatism" excuses the local businesses that crony up to city councils and mayors.

So what can I finally settled on? The state is the final nexus of control over individual's lives, no matter how complicit mega banks and mega corporations are in that control. The state is the nexus of evil, worshipped unconsciously by subjects and overtly by the "supercitizens."

For now, I'm settling on "crony statism," because the state coops the power of corporations, civic organizations, individuals, and other businesses in exchange for favor and protection.

UPDATE: And I can't claim to have invented the term, so I might be onto something:
Submitted by Ed Thompson, Jan 20, 2012 18:11
To quote Mr. Kudlow, “Strong stuff. Good stuff.” But it’s crony *statism*, not crony capitalism. Crony capitalism reverses cause and effect. It is government that is selling favors it has no right to sell. It should stop. There should be laissez-faire, complete separation of economics and state. See www.PrinciplesOfaFreeSociety.com.
But neither can Ed Thompson:

Apparently  T.M. Callagny can claim inventing the term around 1990. See page 4 at the link below, "Child Soldiers In the Civil War in Sierra Leone:"


NEXT: Searching for a blanket term to label the privileged class of individuals in a crony-statist system. "

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