Few things annoy me, anger me, more than Crony Capitalism because not only does it pervert the true market, but it gives people who hate the freedom and prosperity of the market a handy tool to attack "capitalism". The problem though, is that crony capitalism ISN'T actually capitalism. Crony capitalism is the operation of businesses, where the profits and sometimes even the losses are assigned to private individuals, but instead of allowing market competition to occur, winners and losers are determined by government intervention.
Customer service is replaced with lobbying, ground-breaking research funding with campaign contributions, and well-deserved bankruptcy with government bailouts that the taxpayer funds but cannot stop. Businesses that are out-competed, and should restructure or fail, don't because they are politically connected. Less well-connected businesses that may provide better services or products are forced out by bureaucrats helping their friends.
Crony capitalism is perversion, and the friends and enemies of the market alike are right to despise.
But crony capitalism IS NOT a free market and DOES NOT allow the creation of benefits like the free market. Many who believe they hate the free market actually hate cronyism. They hate the political corruption, buying of privilege, taxpayer bailouts, and sweetheart deals that they have been told is the fault of the market but is actually cronyism.
On the other hand, many who hate green technology/energy actually hate the cronyism that typically attends such efforts. I have absolutely no problem with someone selling/buying "carbon credits", developing new energy storage solutions, researching battery technology - - as long as no governmental/taxpayer money, encouragement, favors, or special deals are used to encourage the behavior.
At long last the title of this post makes sense. THIS article discusses how the UN Rio conference on green something or other is densely packed with cronyism. Every solution/program discussed at the UN conference is centered around using government to control and reward the efforts of private industry.
That is not freedom. That is control.
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