Prager University – What is Crony Capitalism?
In a new video from Prager University, Jay Cost of The Weekly Standard explains the truth about crony capitalism.
Watch below.
Here’s more information.
This election season there’s a lot of talk about corruption, about politicians being “bought and sold”, and about “crony capitalism”. What do those terms mean? Why should we care? Is there a way to reduce corruption and restore our trust in government? Author Jay Cost, staff writer at The Weekly Standard, answers these questions and proposes a solution that every society could benefit from.
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Quoting from the video:
“Our Constitution grants Congress the power to provide for the general welfare.” (circa 2:07)
WRONG! WRONG! WRONG!
There is a world of difference, and a severe limitation on the exercise of power, between that which the government is to PROVIDE vs. that which the government is to PROMOTE.
The Constitution seeks to PROVIDE for the common defense: this is a key point to even having the Federated Republic. On the other hand, Our Constitution seeks to PROMOTE the general welfare, not to provide it.
That even Prager University can publicly speak about “providing general welfare” is is to put themselves on the side of the Welfare State. I’m sorely disappointed in them for this.