We are stifled by pilfering.
Crony capitalism obtains a disproportionate amount of society’s goods.
Every day, things happen in this world that can never be explained by any known law. Every day, what gets said gets forgotten, and the same mystery that brings the words, carries them away, wrapping them up into a secret of the forgotten. The law of the inexplicable is always forgotten. – Fernando Pessoa
Crony capitalism is the inevitable consequence of stability.
Established cronies will adopt stability as their primary objective.
And the longer the period of stability, the worse the ultimate collapse.
A crony capitalist economic system that protects incumbent firms hampers the ability of the system to innovate and adapt to novelty.
via Ashwin Parameswaran, an ex-banker.
Does the United States even have the capacity—emotionally or politically—to make the massive changes necessary for us to compete in the 21st century global economy?
Finance capitalism has become a network of exponentially growing interest-bearing claims wrapped around the production economy. – Michel Hudson