Years ago, I decided to make it a minor side mission of mine to move sensible thinkers away from the term ‘crony capitalism’ and encourage them to use ‘crony corporatism’ instead.
Crony corporatism is a much more precise term that zeros in on the offence and the offenders, rather than apportioning undeserved blame to free markets and what is generally considered ‘free-market capitalism’ (shorthand for the unhindered exchange of goods, services and ideas, where price is established and agreed between the exchanging parties). Suffice to say, I still have much work to do on this side mission, but you can possibly help. Let me explain why we need to stick a pin, or preferably a knife, into crony corporatism and cut it out from our economies wherever it is encountered.
