Voice of the people:
The difference between
crony capitalism and
pragmatic capitalism
The Ledger
Mon, March 21, 2022
The difference between crony capitalism and pragmatic capitalism
Walt Back asks a pertinent and important question: Will we become a nation of united Americans? ["When do we become a nation of united Americans?" March 7]. The answer to Back's question, based on his implied premise that voting for the so-called "make-America-great-again conservatives" will do the trick, is a resounding "no."
Back writes: "We need informed voters that understand and appreciate our American history." How ironic. Back attacks the Biden Administration for "adding trillions of dollars to our national debt." In fact, it was the Trump Administration that added $7.8 trillion to our national debt [a record,] Trump and Republican politicians doling out $2 trillion to the ultra-wealthy in 2017, with Trump bragging about it to a group of wealthy donors at Mar-a-Lago - "You all just got a lot richer."
Let's get to the root of the problem here. Back fails to understand the difference between crony capitalism and pragmatic capitalism. Crony capitalism which benefits the few is what Trump and the Republicans represent. They plunder the economy. Pragmatic capitalism, designed to benefit the many, is what Democrats represent, and what Back erroneously calls socialism, where the state owns the means of production. Let’s teach critical thinking skills in our schools.
Laverne Grey, Lake Wales
This article originally appeared on The Ledger: Voice of the people: The difference between crony capitalism and pragmatic capitalism
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