The Humble Libertarian

Building a small army to take over the world and... leave everybody alone.


Wednesday, March 28, 2012

Cronyism and Mercantilism are Siblings

Mercantilism, crony capitalism, fascism and corporatism are all spawned by the marriage of big business and big government. There is no greater threat to human liberty and prosperity than such a marriage because it results in endless wars and monopolies.
Robert Rubin’s and Vin Weber’s defense of the Export-Import Bank features all of the sophistry and economic naivete that have forever marked mercantilist apologies for interest-group privileges...Some sophistry: While Messrs. Rubin and Weber accurately report that the great majority of Ex-Im “transactions” are loans to small businesses, these authors fail to reveal that nearly all of the dollar value of Ex-Im transactions goes to big business. In 2010, 44.4 percent of the dollar value of Ex-Im transactions went to Boeing alone!...
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Cafe Hayek