Crony capitalism - a capitalist economy in which success in business depends on close relationships between business people and government officials.



More awesome economic memes here

Merry Christmas to all, and to all a goodnight!

From Reason's Hit&Run Blog....

As you move slowly and shoe-lessly through the security lines at your airport, trying to get home to your loved ones for Christmas, the Department of Homeland Security would like you to remember that you would be dead if it weren't for them and their $50-odd billion a year. So give them some gratitude and dive into their "DHS' Progress in 2011: By the Numbers."

More here, here, and here.

From Boingboing.net.....

The DOJ has rejected a Freedom of Information Act request from the New York Timesthat asked the agency to reveal the legal basis for the newly unveiled American program of strategic drone-attack assassinations of American citizens off the field of battle.

More here and here.

I'm a big fan of Carl Sagan's Cosmos and this is pretty friggin' amazing.

Here's a little something to pass the time.

From the Agitator:

George Will urges the U.S. Supreme Court to strike down an Illinois law that may be the next step in post-bailout, post-Kelo America: direct transfer of the profits of successful industries to the accounts of those that are failing. The Illinois law attempts to prop up the state’s sagging horse racing industry by requiring the state’s four most profitable casinos to simply hand over 3 percent of gross receipts to Illinois’ horse racing tracks. The bill was recently upheld by the state’s supreme court.

More here.

And the slide towards a new socialism continues.