Tuesday, 7 February 2012

Crony Capitalism

"Crony capitalism abounds when government leaders, usually in exchange for political support, routinely bestow favours on private individuals or business. This is not capitalism. It is called corruption."
Alan Greenspan, the Financial Times, quoted in MoneyWeek.

It could also be called crony democracy!
Interactive, or Direct Democracy is far less biased than Representative Democracy. Why? Because when the rich pay money to influence all votes, instead of a few representatives, it is automatically transparent.

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