Tag Archives: Regulatory Capture

Which Does the US Have: Free Markets Or Crony Capitalism

And Whatsoever nation shall uphold such secret combinations, to get power and gain, until they shall spread all over the nation, behold, they shall be destroyed… (Ether 8:22; Book of Mormon)

With the Occupy Wall Street movement having been in place for a number of weeks now, I have contemplated a number of issues that I think should be of primary focus of this movement and anyone who sympathizes with them. The Occupy movement has at its core the idea that the top 1% of the US control way too much power and wealth and are hindering the growth of the other 99%. In a way, they are right. There is a seemingly imbalance between the two groups.

However, I think the focus of the movement is a little out of whack. First, there is nothing wrong with being industrious and turning your talents into wealth. As the parable told by the Savior of the man who left varying number of talents with his servants with the commandment that they increase those talents shows. (Matthew 25: 14-30; Bible) The two who turned their 5 talents into 10 and 2 talents into 4, respectively, showed that the Lord looks with admiration and respect to those who are industrious with what they are given no matter how much or little. The third servant who hid his talent away and squandered his time was punished because of his idleness. As with this parable, so are we. We are as these servants. Some of us have been given 5, others 2 and yet still others 1. It doesn’t matter what we do with them as long as we increase them through industry in whatever trade we seek. This is something that the Occupy movement refuses to accept. The majority lump all wealthy people into the same class, that of cronies. Continue reading

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