Libertarians to Occupiers: Crony capitalism is the problem

Friday, October 14, 2011

WASHINGTON - Libertarian Party Chair Mark Hinkle released the following statement today:

"I have been following the Occupy protesters, who call themselves the '99%', with interest.

"It's true that 99% of Americans do not enjoy the special benefits of crony capitalism. Crony capitalism is very different from real capitalism. In crony capitalism, government hands out special favors and protections to politically well-connected businesses.

"The TARP bailouts, Solyndra, and the military-industrial complex are all facets of crony capitalism.

"Libertarians love free markets and hate crony capitalism.

"Unfortunately, hypocritical Republican politicians have taught a lot of Americans to think that 'free markets' means freedom for government and big business to engage in crony capitalism.

"That's not what free markets are. A free market is where the government leaves businesses alone, does not attempt to pick winners and losers, does not stifle competition, does not hand out corporate welfare, and does not absolve businesses of liability for their actions. Most of our economy today does not resemble a free market at all.

"It's unfortunate that so many businesses today go to the government begging for handouts and special treatment. I wish they wouldn't. But the real problem is the politicians who choose to give those favors to them, at everyone else's expense.

"I hope the Occupy protesters will start to direct their anger away from Wall Street and big businesses, and toward our government, which has done so much to destroy free markets and entrench crony capitalism."

[link to www.lp.org]