" ...the links among corporations, institutions, and government officials that profit from endless war. The US War of Terror is not about liberation, democracy, or UN resolutions. Plainly put, the War of Terror--whether in Iraq, Colombia, Afghanistan, or the USA--is about subjugation, resource extraction, and opening markets: a practice once referred to more honestly as colonialism. "

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Showing posts with label Crony Capitalism. Show all posts
Showing posts with label Crony Capitalism. Show all posts

Friday, November 9, 2007

Crony Capitalism.

Capitalism, a word that's supposed to stand for free enterprise and yet, in combination with the word Crony, which extends from Cronyism, enterprise no longer appears to be free in it's true nature, democratically anyway. Cronyism refers to an apparent inclination towards those with close relationships and is the means to receiving authority and power, diametrically opposed to Meritocracy.

As shown on this corruption index (to the left), the higher the index, the less corrupt and the lower obviously means more corruption, also indicated by the darker values of red. The United States is a surprisingly 7-7.9 yellow; guess you have democracy to thank for that. However, it also means that the U.S. is not pure of (generalized) corruption, and when combined with a capitalistic society, it would not mix well in favor democracy, hence crony capitalism.

Although, Jane Jacobs, a writer and activist, believes that any capitalist system will eventually fall into the trap of crony capitalism, and therefore no way to avoid it. She reasons that capitalism enables businesses, and these businesses could inevitably become profitable and with money they obtain (political) power; the connection is established between businesses being able to influence the government at one point. [link]

In relevance with my Corruption and Scandal theme, Halliburton, a multinational corporation has obvious connections with the former vice President, Dick Cheney. This association increases the likeliness of no-bid-contracting, a term which I will discuss in a latter post. [Ties with Dick Cheney]