In Defense of the Constitution: capitalism

Showing posts with label capitalism. Show all posts

Monday, March 12, 2012

David Stockman on Crony Capitalism

In the video below David Stockman shares an insightful interview about how the United States is far from a free market economy. Instead, he posits, "Crony Capitalism" is supported by both parties as our current economic system--leading to a lack of accountability, the prevalence of the too-big-to-fail mentality, and a system that favors big business over free market competition. Informed on the issue or not, this is a good video that will leave you better off for taking the time to watch it.

David Stockman on Crony Capitalism from BillMoyers.com on Vimeo.

Hat Tip: TN Libertarian Republicans

"The several states composing the United States of America are not united on the principle of unlimited submission to their general government; but by a compact under the style and title of a Constitution for the United States, and of amendments thereto, they constituted a general government for special purposes [and] delegated to that government certain definite powers and whensoever the general government assumes undelegated powers, its acts are unauthoritative, void, and of no force. To this compact each state acceded as a state, and is an integral party, its co-states forming, as to itself, the other party. The government created by this compact was not made the exclusive or final judge of the extent of the powers delegated to itself, since that would have made its discretion, and not the Constitution the measure of its powers." --Thomas Jefferson