Bitcoin Forum

Cryptocurrency: The Free Market’s New Last Line Of Defense Against Crony Capitalism

Many people paint a mental picture in their heads of crony capitalism as a room full of old rich guys, smoking cigars, watching the ticker, and counting piles of money freshly squeezed from peasant folk. In reality, crony capitalism is more about the government wielding their monopoly of unquestionable force to choose which private businesses are winners, and which ones are losers. Some might compare crony capitalism to fascist style control over the private sector. Mega corporations and unions have very deep pockets and can buy favors such as subsidies or favorable regulation that can give them an almost monopolistic advantage over small businesses. Governments should instead be championing small businesses and all the real economic benefits they bring to the country, because without a fair and level playing field, many of these small enterprises will fail.

Cryptocurrency can play a role in ending this cycle, helping free markets thrive once again.

Read the full story:  https://dcebrief.com/op-ed-cryptocurrency-the-free-markets-new-last-line-of-defense-against-crony-capitalism/