When currying favor with Washington is seen as a much easier way to make money, businesses inevitably begin to compete with rivals in securing government largess, rather than in winning customers.
Thisis the main problem with big business: it’s collusion with government to distort a free-market economy. More from the article:
We are on dangerous terrain when government picks winners and losers in the economy by subsidizing favored products and industries. There are now businesses and entire industries that exist solely as a result of federal patronage. Profiting from government instead of earning profits in the economy, such businesses can continue to succeed even if they are squandering resources and making products that people wouldn’t ordinarily buy.
Seriously. People say capitalism doesn’t work, but what we have isn’t capitalism, it’s Crony Capitalism.
Get our Washington DC out of Wall Streets’ pockets!
Also, stop voting for people in the 1%.
Source: The Wall Street Journal