Crony Capitalism

What follows is the monologue from today’s Roderic Deane Show.

Crony Capitalism. Perhaps a way to describe it would be legalized corruption. This is how Dictionary.com defines corruption:

(noun)

1. The act of corrupting or state of being corrupt.

2. moral perversion; depravity.

3. perversion of integrity.

4. corrupt or dishonest proceedings.

5. bribery.

6. debasement or alteration, as of language or a text.

7. a debased form of a word.

8. any corrupting influence or agency.

Now, here is how BusinessDictionary.com defines crony capitalism:

An economy that is nominally free-market, but allows for preferential regulation and other favorable government intervention based on personal relationships. In such a system, the false appearance of “pure” capitalism is publicly maintained to preserve the exclusive influence of well-connected individuals.

Anytime money can be used to influence a governmental outcome to one’s own advantage, it could be described as a form of corruption. Why? Because once you allow a governmental system to become skewed toward a special interest, that governmental system can no longer be described as “of the people, for the people and by the people”, a phrase coined by Abraham Lincoln in his Gettysburg Address.

Crony capitalism has grown exponentially as our government has become more complex. The legalistic mumbo-jumbo of legislative language does not serve we, “the people” when the least of our members is powerless to comprehend the impact of a legislative outcome on his or her own life. The people can no longer be described as self-reliant when they become dependent on someone else to explain a law or regulation that affects them. It is that self-reliance that has propelled the citizens of The United States to achieve more than has ever been achieved by any group of people in the history of the world. That spirit of self-reliance has been corrupted to the point where it is no longer recognizable.

For those of us that continue to live our lives in that spirit of self-reliance, our current government is also no longer recognizable. Although we cannot place singular blame on crony capitalism for our current state of government, it has been a significant contributing factor in our government’s devolvement from its original design. The power of our governing institutions has grown so much that there is barely any aspect of our lives that it doesn’t touch and seek to control. As Lord Acton so famously put it, “Power tends to corrupt, and absolute power corrupts absolutely.”

Today, we are seeing the effects of crony capitalism on the integrity of our elected officials. Common law is no longer the law of the land. It has been usurped by the willingness of elected officials to turn a blind eye toward its basic principles. These officials now march in lockstep with the special interests that pad their pockets with campaign dollars. These campaign dollars allow the politician to maintain power and the corrupting nature of that power is obvious to anyone outside its influence. Unfortunately, once inside the prism of government, the light of that knowledge bends away from those we most desperately need it to shine on. We have but one alternative and that is sudden and relentless reform.

You can listen to the show HERE.