Using The Government To Crush Competitors Harms Fans And The Economy
Cronyism and industrial policy are thriving to the detriment of our economic vibrancy. Consider that between 1960 and 2007 – right before the Great Recession – the economy expanded by more than 3% annually. Recessions happened, of course, but the economy always recovered the lost ground. Things changed following the 2007-09 housing meltdown and resulting…