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Dean Baker: Krugman Nails It! Problem Is Crony Capitalism, Not Free Market Fundamentalism
Krugman Nails It! Problem Is Crony Capitalism, Not Free Market Fundamentalism
Get out a second Nobel for Paul Krugman. His column today is exactly on the mark in its framing of the right-wing legislative agenda of the American Legislative Exchange Council (ALEC). This is not a group that is committed to the free market.
In area of after area, private prisons, private charter schools, private roads, ALEC is about allowing their members to feed off the public trough with sweetheart contracts. Calling these people "free market fundamentalists" is doing them a great favor. It implies that they are acting on a commitment to libertarian principles, as opposed to the reality where they are acting out of a commitment to stuffing their pockets.
Of course this was the point of that 2011 classic, The End of Loser Liberalism: Making Markets Progressive.
http://www.cepr.net/index.php/blogs/beat-the-press/krugman-nails-it-problem-is-crony-capitalism-not-free-market-fundamentalism
Get out a second Nobel for Paul Krugman. His column today is exactly on the mark in its framing of the right-wing legislative agenda of the American Legislative Exchange Council (ALEC). This is not a group that is committed to the free market.
In area of after area, private prisons, private charter schools, private roads, ALEC is about allowing their members to feed off the public trough with sweetheart contracts. Calling these people "free market fundamentalists" is doing them a great favor. It implies that they are acting on a commitment to libertarian principles, as opposed to the reality where they are acting out of a commitment to stuffing their pockets.
Of course this was the point of that 2011 classic, The End of Loser Liberalism: Making Markets Progressive.
http://www.cepr.net/index.php/blogs/beat-the-press/krugman-nails-it-problem-is-crony-capitalism-not-free-market-fundamentalism
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