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No valentine love for crony capitalists

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News from the liberterrain…

Some people got candy or chocolate covered cherries for Valentines Day but really lucky folks received an un-sugar-coated lesson in reality about the "unhealthy lovefest between big business and political institutions."

February 14 was National Expose Cronyism Day for some 250 student groups on university campuses across the US.

At the University of Colorado at Colorado Springs, for example, members of the libertarian Young Americans for Liberty handed out candygrams, stickers and information sheets to fellow students and talked to them about crony capitalism.

Student leaders said they’re disgusted with the recent bailouts of banks and corporations in the US, according to the independent online Summit County Citizens Voice of Colorado. The national event hopes to encourage youth activists to independently take action to fight cronyism and advocate economic freedom instead.

"This event is a great way for students to come together and fight for free market capitalism." said one YAL activist.

The Nashville Scene described Vanderbilt University's YAL chapter as a pro-Ron Paul Libertarian student group and reported on its participation in the national event at the Sarratt Student Center Promenade.

And the Cornell University Libertarians tweeted about their experiences during their participation.

The goal of the event nationwide was to educate young adults about the connection between big government and special interests like big corporations by explaining the difference between crony capitalism and free market capitalism.

The national organization behind Expose Cronyism Day is Crony Capitalism is Phony Capitalism. Formed in 2011, the group distributed tabling kits to campus activists around the country.

The organization's Facebook info page offers this definition:

"Crony Capitalism, noun \krō-nē\ka-pə-tə-liz-əm: a form of capitalism wherein business success is based on cozy relationships between business executives and government officials. This coziness may take the form of favoritism in the distribution of government grants, tax breaks, subsidies, and legal permitting."

Another prominently featured description is: "Crony capitalism is a form of socialism mischaracterized as capitalism."

Libertarians, who advocate free markets, frequently describe crony capitalism as "corporatism," "corporate welfare" and, increasingly, "zombie capitalism."

A Google search by the Libertarian News Examiner for "National Expose Cronyism Day" failed to find any mainstream media articles about the event but it was reported in the so-called "freedomsphere" by such sources as the weekly alternative press, online independent news sites and internet social media like the ones cited above, and by the Libertarian National Campaign Committee.

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Read more Reed: North Texas news and commentary at Dallas Libertarian Examiner.
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