What is Crony Capitalism in Greensboro and Guilford County?

Crony capitalism is a pejorative term

describing an allegedly capitalist economyin which success in business

depends on close relationships between businesspeople

and government officials.

Like the relationship with Greensboro's new lobbyist and Robbie Perkins?

Like the campaign contributions of the parents

of Greensboro's new lobbyist to Mayor Perkins?

It may be exhibited by favoritism in the distribution of legal permits,

government grants, special tax breaks, and so forth.

How many Greensboro City Council Members

were aware of the lobbyist's relationship with Mayor Perkins?

Crony capitalism is believed to arise

when political cronyism spills over into the business world;

self-serving friendships and family ties

between businessmen and the government
influence the economy and society

to the extent
that it corrupts public-serving economic and political ideals.

In its lightest form,
crony capitalism consists of collusion among market players.

Like government contracts for campaign contributors

like the business the City of Greensboro does
with many who finance Guilford County's political process?

.

While perhaps lightly competing against each other,

they will present a unified front to the government

in requesting subsidies or aid.

…it is not uncommon for current industry players

to gain control of the “watchdog” and use it against competitors.

.

This phenomenon is known as regulatory capture.
.

A famous early example in the United States

would be the Interstate Commerce Commission,

which was established in 1887 to regulate the railroad “robber barons;”

instead, it quickly became controlled by the railroads,

which set up a permit system that was used to deny access to new entrants.

Crony Capitalism

Wikipedia

If Greensboro and Guilford County are infected with Crony Capitalism,
how can we fix our political system
to offer businesses looking to expand or relocate a level playing field?