Garron Weeks | Staff Writer
In America, business runs almost every part of society and its economy is a mix of capitalism and socialism. They’re ran in a laissez-faire approach, meaning “that government should intervene as little as possible in the direction of economic affairs.” But whenever the government does get involved, it uses its monopoly of power to favor certain corporations or individuals. This is not capitalism, but crony-capitalism.
Capitalism is “an economic system in which investment in and ownership of the means of production, distribution and exchange of wealth is made and maintained chiefly by private individuals or corporations” without state-owned or influenced business. The Heritage Foundation defined crony-capitalism as enjoying “monopoly power [to] dictate pricing and conditions of service, often becoming extravagantly rich in the process, while denying millions of their countrymen that very same access.” Corporations create monopolies through lobbying and influencing politicians and the government.
This government intervention in businesses penalizes the owners and stockholders of businesses through tariffs, taxes, and regulations. Some regulations are important, but when they are influenced through lobbying, they rid the market of its natural order and corrupt the system. Since the year 2000, the finance sector of big banks lobbied a total of $2.84 billion directly into the United States political system, $961 million in donations to candidates and political parties and $1.88 billion in publicly disclosed lobbying expenditures to influence Congress and the executive branch. Money controls everything and there is a lot of influence going on in Washington D.C.
One of the biggest disadvantages to the lower class is the public education they are given. The government runs the schools and divides them with borders to leave those less fortunate to be grouped together. These schools do not provide the stability of education or an…