(Humor) Klavan on why crony capitalism isn’t capitalism

**Posted by Phineas

One of the occasional frustrations I experience happens when I discuss economics and the economy with liberal friends (1). When I praise capitalism and free markets, they point to corrupt practices by business and its government allies as proof that capitalism can’t work, and that we need more government regulation to make the system “more fair.” (“Fair” must be the new “F-word.”) (2) When I counter that the problem is government intervention and that the picking of winners and losers is what creates the cronyism, they just roll their eyes in pity at my lack of understanding and we go on to the next topic.

Well, Andrew Klavan (3) makes the same point I do, only –as usual– in a much more witty and entertaining fashion. Maybe, the next time the topic comes up, I’ll just whip out my Kindle Fire and play this video for them:

via Roger Kimball

Footnotes:
(1) Hey, this is California. You can’t avoid having a few. And, other than being wrong, they’re really nice people.
(2) Their faith in government is touching. Childlike and in denial of reality, but touching.
(3) Who used to make the “Klavan on the Culture” videos I’d post. He needs to start that series again. Now. Please?

(Crossposted at Public Secrets)