State of South Carolina Archives: on Corporations

Thomas Ravenel: Crony capitalism is not true free market capitalism

Crony capitalism--our current system in which special interests line the campaign coffers of politicians such as Lindsey Graham in an effort to cut off competition from upstarts through government subsidies and increased regulation--is not true free market capitalism. A perfect example of such cronyism is the Export-Import bank, which serves as a slush fund, doling out taxpayer-guaranteed loans to a select few foreign corporations that then purchase goods from a select few American corporations. The benefits of these subsidies go overwhelmingly to the shareholders of those few companies and their top executives, not to the American people. This is not true capitalism, in which no such specialized subsidies exist. Cronyism is a command economic boondoggle benefiting a select few while leading to reduced competition and higher prices for the rest of us. Such government-funded schemes undermine the invisible hand of the free market and must end.
Source: 2014 S.C. Senate campaign website, Sep 1, 2014

  • The above quotations are from State of South Carolina Politicians: Archives.
  • Click here for definitions & background information on Corporations.
  • Click here for other issues (main summary page).
2016 Presidential contenders on Corporations:
Gov.Jeb Bush(FL)
Dr.Ben Carson(MD)
Gov.Chris Christie(NJ)
Sen.Ted Cruz(TX)
Carly Fiorina(CA)
Gov.Jim Gilmore(VA)
Sen.Lindsey Graham(SC)
Gov.Mike Huckabee(AR)
Gov.Bobby Jindal(LA)
Gov.John Kasich(OH)
Gov.Sarah Palin(AK)
Gov.George Pataki(NY)
Sen.Rand Paul(KY)
Gov.Rick Perry(TX)
Sen.Rob Portman(OH)
Sen.Marco Rubio(FL)
Sen.Rick Santorum(PA)
Donald Trump(NY)
Gov.Scott Walker(WI)
Gov.Lincoln Chafee(RI)
Secy.Hillary Clinton(NY)
V.P.Joe Biden(DE)
Gov.Martin O`Malley(MD)
Sen.Bernie Sanders(VT)
Sen.Elizabeth Warren(MA)
Sen.Jim Webb(VA)

2016 Third Party Candidates:
Gov.Gary Johnson(L-NM)
Roseanne Barr(PF-HI)
Robert Steele(L-NY)
Dr.Jill Stein(G,MA)
Please consider a donation to!
Click for details -- or send donations to:
1770 Mass Ave. #630, Cambridge MA 02140
(We rely on your support!)

Page last updated: Feb 13, 2018