Crony Capitalism at it’s Finest

Industry Note: The Rot at the Core, Special Disney Crony Capitalism Edition

Of course, neither move – coypright extensions or side payments to politicians in the form of propaganda – are in the least good for the economy, because they destroy more value than they create, through the stifling of potential innovation, competition, and new capital formation. This is crony capitalism at it’s finest – we make your propaganda, you protect our assets; this is the kind of anti-capitalism that ends up destroying economies (hi Japan).

Right on.