Often people’s fear of big business is justified. They often do lobby the state for special favours and bailouts. But engaging in this behaviour it is nothing to do with capitalism, although it always seems to take the blame. The fear of companies getting too big and becoming huge monopolies at the expense of consumers is a valid worry, but only in our current system which is not capitalism! We live in a corporatist/fascist society, where the state regulates every aspect of business you can think of, almost always at the expense of the small companies and the consumers and in favour of big, politically connected companies. Whenever the state uses coercion in the market place, it is a net-negative. True capitalism is a self-regulating market place where individuals get both the profits and the losses of any endeavour they undertake, and consumers have free choice to take their business to anybody they choose, regardless of whether some violent gang approves or not.
With that said then: John Stossel just did another fantastic program on Crony Capitalism. This is pretty much the first time I’ve seen this issue broken down so excellently on mainstream television. Everybody needs to see and understand this distinction and I can’t think of a better way to do so than to watch the program: