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  • Writer's pictureEric Williams

Capitalism vs. Crony Capitalism

Is Capitalism broken, and in need of government intervention or greater regulation? If so, is it really capitalism that is flawed, or is it a bastardization, sometimes referred to as "Crony Capitalism", an economic system characterized by close, mutually advantageous relationships between business and government?

In the following TedTalk video, "What Capitalism Gets Right - and Governments Get Wrong," libertarian editor-in-chief of "Reason" magazine, Katherine Mango-Ward, explores why capitalism works, and why she believes that often capitalism's perceived failures are actually due to government intervention rather than allowing a natural entrepreneurial cycle (which also means letting businesses fail).


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