Libertarians to Occupiers: Crony capitalism is the problem

WASHINGTON - Libertarian Party Chair Mark Hinkle released the following statement:

 

"I have been following the Occupy protesters, who call themselves the '99%', with interest.

 

"It's true that 99% of Americans do not enjoy the special benefits of crony capitalism. Crony capitalism is very different from real capitalism. In crony capitalism, government hands out special favors and protections to politically well-connected businesses.

 

"The TARP bailouts, Solyndra, and the military-industrial complex are all facets of crony capitalism.

 

"Libertarians love free markets and hate crony capitalism.

 

"Unfortunately, hypocritical Republican politicians have taught a lot of Americans to think that 'free markets' means freedom for government and big business to engage in crony capitalism.

 

"That's not what free markets are. A free market is where the government leaves businesses alone, does not attempt to pick winners and losers, does not stifle competition, does not hand out corporate welfare, and does not absolve businesses of liability for their actions. Most of our economy today does not resemble a free market at all.

 

"It's unfortunate that so many businesses today go to the government begging for handouts and special treatment. I wish they wouldn't. But the real problem is the politicians who choose to give those favors to them, at everyone else's expense.

 

"I hope the Occupy protesters will start to direct their anger away from Wall Street and big businesses, and toward our government, which has done so much to destroy free markets and entrench crony capitalism."

 

For more information, or to arrange an interview, call LP Executive Director Wes Benedict at 202-333-0008 ext. 222.

 

The LP is America's third-largest political party, founded in 1971.  The Libertarian Party stands for free markets, civil liberties, and peace. You can find more information on the Libertarian Party at our website.

 

P.S.  If you have not already done so, please join the Libertarian Party. We are the only political party dedicated to free markets, civil liberties, and peace. You can also renew your membership. Or, you can make a contribution separate from membership.

Libertarians to Bernanke: You're wrong!

WASHINGTON - Libertarian Party Chair Mark Hinkle issued the following statement today:

"Associated Press reports today that Fed Chairman Ben Bernanke is telling Congress they must not cut federal spending sharply. Chairman Bernanke, you're wrong.

"The federal government is currently spending somewhere around 24% of America's total economic output -- even more if you ignore the government's accounting gimmick of 'offsetting receipts.'

"That's far, far too high. 24% of our economy has been displaced out of the productive private sector into the unproductive government sector. The best thing Congress could do right now is to cut spending sharply. That would be good for both our short-term and long-term economic health.

"Chairman Bernanke does not have a fantastic track record. Under his watch, unemployment has increased dramatically, the Fed has more than tripled the money supply, and inflation is rising.

"Chairman Bernanke, I suggest that you read Frederic Bastiat's excellent essay 'What is seen and what is not seen.' I think it would help you reconsider your devotion to Keynesian economics and broken-window fallacies. Government doesn't create economic activity. The American people do."

For more information, or to arrange an interview, call LP Executive Director Wes Benedict at 202-333-0008 ext. 222.

The LP is America's third-largest political party, founded in 1971. The Libertarian Party stands for free markets, civil liberties, and peace. You can find more information on the Libertarian Party at our website.

P.S. If you have not already done so, please join the Libertarian Party. We are the only political party dedicated to free markets, civil liberties, and peace. You can also renew your membership. Or, you can make a contribution separate from membership