Cronyism, Corporate Welfare and Inequality

Day 3
Session 5
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to
10:20 AM

Income Inequality remains a pressing social and political issue in domestic and international politics. Market-based economies ensure that everyone regardless of status, political affiliation, race or gender have an opportunity-based society where they can only grow rich when they serve others. Corporate Welfare distorts the incentives of markets by inducing a culture of favoritism, public-private partnerships and big business boondoggles. Cronyism favors the rich at the expense of everyone else and fosters inequality of outcome.

 

Recommended Readings

"The Economics and History of Cronyism" by David Henderson https://www.mercatus.org/publication/economics-and-history-cronyism

"The Candle Maker's Petition" by Bastiat https://mises.org/library/candlemakers-petition

Instructor