4min chapter

The Soho Forum Debates cover image

Are Libertarians Greedy and Delusional?

The Soho Forum Debates

CHAPTER

The Evil of Crony Capitalism

David Frum: In his book, Andrew mentions the evil of crony capitalism. He writes that much of the new inequality is not the effect of competitive markets but of a crony capitalism in which large corporations and banks have used their power to redistribute wealth toward themselves. But he asks liberals and libertarians to join forces against this, says Frum. The welfare state has promoted poverty by fostering a culture of dependency, said Frum.

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