Why Crony Capitalism Will Be Hard To Uproot: Interview Of David Stockman

I think it’s going to be very difficult to uproot crony capitalism, which is thoroughly embedded in Washington’s governance process. It’s worth understanding and noting that crony capitalism is really the stepchild of the Keynesian idea. If you go back to the idea that free-market capitalism is inherently weak and prone to breakdowns and recession, then the government is always looking for ways to ‘help,’ to stimulate, to prop it up.