The Recovering Investment Banker

Corporatism vs. Capitalism

Episode Summary

Chris makes the case that giant corporations in bed with Government snuff out free market capitalism, and dominate their markets as a result. It's crony capitalism, not free market capitalism. And it's destroying our freedom, our economic future, and our health.

Episode Notes

00:45 - Today we're going to discuss corporatism vs. capitalism.

05:04 - Small businesses operate in a free market. That's real capitalism. But large corporations often do not, because they can bend rules and policy in their favor.

09:00 - 20% of the US economy no longer has a free market. It's healthcare.

14:02 - It used to be the majority of doctors were sole proprietors. Now, over 90% of doctors are employees of major healthcare companies. 

20:17 - The only people who pay full price for medicine are people who don't have insurance. Generally, the lowest-income people.

25:34 - The free market isn't roaring anymore, because Government got in the way, and giant corporations are dancing along with them. 

26:08 - Follow the example of Ludwig Erhard, who forbade companies from talking/lobbying with government officials. It forced separation of the economy from politicians.

27:22 - Summary - Open up the free market. It's the most fair, equitable system...but corporatism is not.


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