President Obama yesterday paid a visit to what seems to have become his administration’s favorite North Carolina example of crony capitalism “green jobs.” Cree lighting in Durham has seen both Obama and VP Joe Biden visit within the last 18 months, both touting Cree as some sort of success story. I wrote before about how they [...]
Despite Gov’t Privileges, Cree’s Business Taking a Nosedive
It has been almost exactly a year since VP Joe Biden visited the Cree lighting company in Durham, who makes LED lights. In his visit, Biden proclaimed: “I don’t think I’ve ever seen a success story quite like this one here at Cree,” Biden said. “It ties so much into what President Obama and I [...]
Purdue to State Senate: “Hands Off My Corporate Welfare!”
Big surprise – the Governor doesn’t want to cede control over millions of taxpayer dollars she uses to bribe corporations so that her office can issue a press release declaring she is “doing something to create jobs.” I’ve written before about this practice of crony capitalism, and how it consolidates more power into the hands [...]
Obamanomics = Corporatism, part II
As I pointed out here recently, President Obama’s economic vision for America could most appropriately be labeled as corporatism. His view of an economic order is one in which the ruling class of politicians direct resources for their chosen ends, often benefitting politically-connected corporations at the expense of everyone else. John Stossel exposes one such blatant [...]
