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In the News: The Pony Express and Other Tales of Rent-Seeking in America
Who is to blame for America’s economic woes? In his recent Washington Examiner piece, Professor Matt Ryan argues that the question is not “who,” but rather, “what.” The answer is cronyism — when individuals or businesses collude with those in power to get benefits they couldn’t have gotten otherwise. As Professor Ryan explains:
“Not only does cronyism’s manipulation of the political process squander our resources and restrict our economic freedom, it dampens the overall climate of entrepreneurship. As business creation is a crucial cog in the engine of economic growth, this impact cannot be overstated and should not be underappreciated.”
Read the rest of the article here.