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How crony capitalism undermines economic growth and innovationJuly 12, 2012
The problem of crony capitalism comes in a wide variety of policies that benefit specific individuals, firms and industries at the expense of everyone else. From occupational licensing laws to corporate tax breaks, and from federal flood insurance to ethanol mandates, capital is being misallocated due to state and federal policies. As a result, innovation, economic growth and employment are being undermined.
After a “60 Minutes” report brought to the attention of the American public that Congress was capitalizing on non-public information, lawmakers quickly collaborated with one another and proposed two bills banning insider trading by members of Congress and their staff. This bill reeks of desperation.
Chuck Plunkett of The Denver Post recently broke a story entitled “Spike in City Costs Found in Denver”, which details rising costs and mismanagement by the city’s Public Works Department.
Today, states face structural deficits created by overspending. Most of the legislative "fixes" over the past few years for state budget gaps have merely postponed or obscured the problems rather than addressing them directly. The State Budget Reform Toolkit—a joint project of the American Legislative Exchange Council, Reason Foundation, Americans for Tax Reform, The Mercatus Center at George Mason University, Washington Policy Center, Evergreen Freedom Foundation and State Budget Solutions—offers a practical set of budget and procurement best practices to guide state policymakers as they work to solve the current budget shortfalls, assisting legislators in prioritizing and more efficiently delivering core government services through advancing Jeffersonian principles of free markets, limited government, federalism, and individual liberty.
On the floor of the Senate on Tuesday, Sen. McCain, as he has many times in similar situations in the past, detailed some of the nearly 6,500 earmarks totaling approximately $8.3 billion contained in the omnibus appropriations bill currently being considered by Congress.
It's time to reform Congress.December 1, 2010
I join with all Americans who dream of a day when Washington is broken enough to see a Congress rigged to prevent any more "progress." But the trouble with lame-duck sessions happens to be the opposite. It is one thing to be abused by democracy and quite another to be abused by a bunch of rejected, disgruntled and disconnected politicians.
View Resources by Type
- 3 Reasons 2014 Might Be the Most Libertarian Year Ever!
January 7th, 2014
- 3 Reasons We Need a Dirty Deal on the Debt Ceiling
October 11th, 2013
- Welfare Pays More than Minimum Wage in 35 States: Q&A with Cato's Michael Tanner
September 19th, 2013
- Reason-Rupe Poll: Congress Should Cut Spending, Forget Gun Control
May 24th, 2013
- Peter Suderman Discusses the Wasted $833 billion Stimulus on C-SPAN's Washington Journal
May 17th, 2013
- Matt Welch Discusses Public Education, Sequester Cuts, & Gun Control w/ Melissa Harris-Perry
April 19th, 2013
- 5 Unacknowledged, Unexpected, and Unavoidable Facts about Govt Spending and the Economy
April 11th, 2013
- Sequester Shocker: It Feels Like Nothing's Changed
April 5th, 2013
- Thank God for Pope Francis - and for Budget Gridlock!
March 14th, 2013
- Amateur Beats Gov't at Digitizing Newspapers: Tom Tryniski’s Weird, Wonderful Website
March 5th, 2013
- 5 Sequester Facts to Know Before Committing Suicide
February 26th, 2013
- Matt Welch Discusses the GOP's Latest Budget Strategy on The Kudlow Report
January 23rd, 2013
- Obama Inaugural Rewind: Rhetoric vs Reality
January 21st, 2013
- The Problem with Hurricane Sandy Aid
January 11th, 2013
- Katherine Mangu-Ward Discusses the Failed Proposal to Advert the Fiscal Cliff with Kudlow
December 21st, 2012
- Grover Norquist on Fiscal Cliff, Tax Pledges, & Being the GOP's "Rasputin"
December 19th, 2012
- Katherine Mangu-Ward Joins a Panel on The Kudlow Report to Discuss the Fiscal Cliff Crisis
December 5th, 2012
- Matt Welch Discusses the Eternally Recurring Fiscal Cliff on Fox Business
November 29th, 2012
- The Future of Financing the Arts: An Interview with Adam Huttler of Fractured Atlas
November 26th, 2012
- 3 Reasons to Kill the Dept. of Homeland Security
November 23rd, 2012
- How Romney and Republicans Can Appeal to Libertarians
October 16th, 2012
- The Deep Logic of the Chicago Teachers Strike or, The Truth Behind Teachers Unions
September 15th, 2012
- New York's 9/11 Memorial: When Did Honoring the Dead Become an Occasion for Fleecing the Living?
September 10th, 2012
- Public-Private Partnerships in Puerto Rico
July 9th, 2012
- James V. DeLong on Ending "Big SIS" (The Special Interest State)
July 3rd, 2012
Experts: Earmarks and Transparency
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Director, Pension Reform Project
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Editor in Chief, Reason.com and Reason TV
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Director of Government Reform
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Director, Morey Fiscal Policy Initiative, Mackinac Center for Public Policy
- Adrian Moore
Vice President, Policy
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Vice President, Research
- Anthony Randazzo
Director of Economic Research
- Adam Summers
Senior Policy Analyst
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