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According to Pew Research 55% of U.S. adults think the government should play a big role in solving problems. (Pew Research Center, 2019)
What these adults may not know is that left-leaning government leaders implement policies that cause crises. They then use the crisis to justify more government involvement and increased spending. They choose selective businesses to mask their evil deeds in a cloak of compassion and partnership. This is crony capitalism.
What is Crony Capitalism?
Crony capitalism is an economic system in which specific individuals and/or businesses receive favorable monetary or policy assistance from government. (Macey, 2016) Crony capitalism distorts free-market capitalism by suppressing competition, selecting specific winners and creating favoritism. (Merriam Webster Staff)
The Advantages
It helps politicians look compassionate and prioritizes process over results.
“Although the big word on the left is 'compassion,' the big agenda on the left is dependency.”
- Thomas Sowell
The Drawbacks
Crony Capitalism most often treats only symptoms of problems while avoiding root causes. Its actions without systems thinking (an approach to uncover root causes of problems) sound compassionate yet create unintended consequences. (Mosaffa, 2023)
A good example is the increase of the minimum wage. It sounds compassionate and causes job loss for those it was intended to help. (Chapman, 2024)
Another drawback is the lack of accountability and lack of learning. Crony Capitalism rarely achieves predicted results, and its failures are incurred by the taxpayers.
“It’s hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong.”
- Thomas Sowell
For example, in 2009 President Obama invested $535 million of taxpayer money in a loan to the solar power company Solyndra. Two and one-half years later it filed for bankruptcy. Obama wasn’t held accountable, taxpayers were. (Tubb, 2015)
Free-Market Capitalism without Cronyism
Free-Market Capitalism involves individual investment. Any gain is enjoyed by the investors, and they absorb any losses. When the risk of loss is high, investors require a higher return. Government regulations increase costs and risk stunting investments by individuals.
Connecticut is Addicted to Crony Capitalism
“The purpose of politics is not to solve problems but to find problems to justify the expansion of government power and an increase in taxes.”
-Thomas SowellThe Bridgeport Bluefish Stadium (built in 1998) required $15 Million investment. Half was paid for by the City of Bridgeport. Twenty years later the Bluefish swam away, and the stadium was turned into a boutique amphitheater. The Investment lost money after only 9 years. (Bailey, 2017)
The Massachusetts-based company Nanoramic was awarded $47.5 million from the U.S. Department of Energy in late 2023 to build an electric vehicle (EV) battery factory in Bridgeport. The factory is still in the planning phase because they await additional state financial aid. (Lockhart, 2025) This project is starting while electric vehicle mandates are cancelled, and EV manufactures have lost up to $6,000/ vehicle. Furthermore, EV mandates were created based on a climate crisis hoax. (Wally Hauck, 2024)
Governor Ned Lamont is proposing the state invest a portion of the 2025 budget in housing. A lack of new housing construction over the past 20 years has created a shortage of supply. (Fenster, 2022) Government policies stunt the construction and increase risk. Now renters and even buyers are being priced out of the market. Governor Lamont’s administration swoops in with taxpayer dollars to solve the issue they caused with over regulation. (Partnership for Strong Communities, 2024)
Connecticut is a sanctuary state. This welcomes illegal immigrants. Our compassionate politicians step in with taxpayer money to provide an estimated $83 – 121 million to provide healthcare. (Golvala, 2022)
The climate crisis is a hoax and yet leftist politicians push for green energy projects using taxpayer money. (Wally Hauck, 2024) The state invested in an offshore wind project which was recently put on hold because data showed it was increasing energy costs. (Spiegel, 2024) Wind energy projects are unsightly, they use expensive raw materials, cause environmental nightmares when disposing of the aging towers and they murder birds and whales.
Connecticut politicians partnered with Eversource to force electric customers to pay public benefits on electric bills (~ 50%). This increased cost is from mandated state and federal regulations including green energy projects and assistance and hardship programs.
Summary
Connecticut leftist-politicians are addicted to this bad idea of crony capitalism because it makes them look compassionate and they don’t need to be accountable for the results.
Instead of pushing back about the failures, lazy voters keep electing these addicts. Crony Capitalism rarely creates intended results. The outcomes in Connecticut from addicted Democrats who have been in the Governor’s mansion since 2011 and in the majority in the senate and house since 1996 are:
We need an intervention. What can you do? Wake up! Embrace the idea that less government involvement creates an environment attractive to individual investors. Embrace capitalism and reject crony capitalism and vote for candidates accordingly. Make the leftists go “cold turkey”. Stop being lazy!
“Instead of pushing back about the failures, lazy voters keep electing these addicts.”
“We need an intervention. What can you do? Wake up! … Make the leftists go “cold turkey”. Stop being lazy!”
You call this assertive?
This is a lament.
The other side is not lazy. They have conditioned their base - most of CT - to the notion that they AND their base are on intellectual and moral high ground.
Until WE stop whining and take the fight to them, you will get the same result.