The big government cronyism racket – is absurd. It is a disjointed, discombobulated mess of ridiculous ideas and assertions – put forward in steadfast defiance of the fundamentals of the free market and human nature.
Government intervention in the private sector is nigh always stupid and anti-productive. Private companies usually don’t go begging for government assistance – unless and until they have proven themselves failures in the private sector. (Unless they’re intensely obnoxious, have succeeded on their own – and want the added edge of government favoritism anyway. See: Google and Apple, amongst so many others.)
Most of the time, government isn’t picking winners and losers – government is picking losers at the expense of winners.
Big government officials – are more than happy to be the cronies on the inside. More government activity – means more power for them. Just cut the requisite campaign checks – and the government is your oyster. Oh – and then hire them to some well-paid-work-free gigs after they quit the government. Four-hundred-thousand-dollar-speech-giving, for instance.
NOT A NEW THING
Burton Folsom's The Myth of the Robber Barons is a short, but excellent book that argues that the mislabeled "Robber Barons" of the 19th century became wealthy not because they robbed anyone but because they offered quality products/services at record low prices. These productive giants made their fortunes because so many Americans chose to do business with them.
There are several values to gain from this book. First, you will learn several inspiring stories about how great industrialists amassed their fortunes through ingenuity, prolonged dedication and calculated risks. In an age when successful businessmen are vilified, an informative book that recognizes the heroism of prodigious business accomplishments is a rare treasure.
From reading this book, you will learn about how Cornelius Vanderbilt defeated the Fulton NY/NJ steamship-transport monopoly by offering lower rates, earning a reputation for his punctuality, investing in faster and larger ships and providing ancillary services such as concessions. Although this work does not get into Vanderbilt's days as a railroad tycoon, you will still learn about his many other ventures as a steamship entrepreneur, including his role in ferrying traffic during the 1849 gold rush as well as his spirited offer to sink the infamous confederate submarine, the Merrimac, during the U.S. Civil War.
From reading this book, you will also learn about how steel magnate Andrew Carnegie was obsessed with cutting costs, which led to him profitably carting off tons of steel shavings discarded from a competing steel plant owned by the Scrantons. Although the fourth chapter actually focuses on Carnegie's fascinating and clever right-hand man Charles Schwab, there are plenty of good Carnegie stories in this book.