Fake Capitalism Is a Primary Enemy TodayThe U.S. economy is not a bastion of market freedom but is in fact rife with collusion between government and those businesses most unscrupulous in playing the game.
By S.T. Karnick
March 27, 2022
Socialism is rightly feared as a critical danger to human freedom and flourishing. There is, however, an underappreciated and equally grave menace to free enterprise today: fake capitalism.
Fake capitalism results when a vast array of government policies channel economic activity into small numbers of large, powerful companies.
Contrary to what one might think, governments can control these big companies more easily than a rabble of smaller firms, which are necessarily more interested in pleasing customers than in catering to politicians.
Even worse, fake capitalism disguises government control of the economy and makes people think free markets are inherently corrupt, thus priming the public to cede even more power to government.
The U.S. housing market is pumped up by loans the federal government forces banks to give borrowers who cannot afford them, in order to pay home prices inflated by funny money printed by the U.S. Federal Reserve. That is not a natural economic condition. It is fake capitalism.
Consumer markets over-expanded by government income-transfer payments (which reassign money from investors to consumers without first producing goods and services), along with an inflated money supply, are not natural or free. They are elements of fake capitalism.
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Source:
https://amgreatness.com/2022/03/27/fake-capitalism-is-a-primary-enemy-today/
