The triumph of crony capitalism occurred on October 3rd, 2008. The event was the enactment of TARP — the single greatest economic-policy abomination since the 1930s, or perhaps ever. It was justified as a last-resort exercise in breaking the rules to save the system.
Bailing out Bear Sterns while letting Lehman fail, the two TARP votes, and the incessant clamor about (nonexistent) systemic risk were geared toward bailing out Wall Street firms on the wrong side of housing risk.
Government spending — whether on our current armed forces and their more than 800 foreign bases or on "green" energy and other government-favored projects — does not produce prosperity. It only diverts resources...
What is the corporate form of organization, where did it come from, how does it work, and do corporations take advantage of consumers, investors, and other market participants? Recorded at Mises University 2010.