I am going to start this post by linking an article by Ralph Nader, the left-wing Green party hero. I, a libertarian, unapologetic capitalist, agree with Mr. Nader on this issue. Nader’s take is that the left and the right should be able to agree that corporatism is a common enemy.
The common response that I always hear from people on the left to my promotion of capitalism is: why is government bailing out big business? Why is government paying off big agriculture with billions in subsidies? Why are corporate titans getting government money? Why is the government in bed with the defense industry?
The left is completely correct on all of these points. My response is that true capitalists want government to leave business alone as much as possible. In the sense that government promotes certain businesses over others (which is what corporatism is), it is violating a central principle of free-market capitalism: companies should live or die based on the marketplace and their ability to create new and better products at a lower cost, not on getting handouts from government (which means taking taxpayer money to make the rich even richer).
Let me make this very clear: true capitalists hate corporate welfare just as much as the left does, and perhaps even more because it makes business look like the enemy. In addition, in a corporatist world, your success depends more on your connections and who you pay off (or lobby), rather than the brilliance of your product. Nothing could be more offensive to a true capitalist.
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