August 16, 2012
A Word of Warning to the Political Right

Jason Kuznicki:

​Often the biggest enemies of the market properly understood are precisely those who have made large fortunes—and who now want the government to shield them from all further risk. They are also trying their best this election cycle to portray themselves as your friends, and as friends of the market. You’ve spent way too much time listening to them and doing their bidding.

Indeed. That's something I've found most people, regardless of political allegiance, don't seem to understand. So you think big business getting special favors from government is proof that capital is awful? Right, well... that's not capitalism. That's cronyism.

The solution isn't for government to be more crafty in regulation of those businesses. In fact, regulation is a particularly favorite arrow in the quiver of special favors, used quite often to shut out competition and protect entrenched interests. (You'd be shocked to learn just how many massive corporations are intimately involved in helping legislators and regulators craft the very regulation meant for their industries.)

The solution isn't more government power that bad actors can exploit. Quite logically, the answer is for us to furnish the political class with far less power in the first place.