Jan 14, 2010

Como decía hace unos días, por lo menos en EEUU mucha gente utiliza el término “capitalism” como sinónimo de corporativismo.

Habría que llamar a las cosas por su nombre, economía de mercado y corporativismo:

The word "capitalism" is used in two contradictory ways. Sometimes it's used to mean the free market, or laissez faire. Other times it's used to mean today's government-guided economy. Logically, "capitalism" can't be both things. Either markets are free or government controls them. We can't have it both ways.

The truth is that we don't have a free market—government regulation and management are pervasive—so it's misleading to say that "capitalism" caused today's problems.

The free market is innocent.

But it's fair to say that crony capitalism created the economic mess.

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What is crony capitalism? It's the economic system in which the marketplace is substantially shaped by a cozy relationship among government, big business, and big labor. Under crony capitalism, government bestows a variety of privileges that are simply unattainable in the free market, including import restrictions, bailouts, subsidies, and loan guarantees.

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