National University System Institute for Policy Research

(858) 642-8498 Get Started

EconoMeter confronts Wall Street occupiers

U-T EconoMeter


Sunday, October 23, 2011

View Article

Kelly Cunningham, National University Systems

Answer: No

While there are legitimate concerns over corporate welfare for Wall Street and major corporations, the protests should more accurately be directed at Congress and the president responsible for the bailouts. Rather than generally condemning and interfering in capitalism, elected officials have the power to change laws and reverse the situation. There is a huge difference between free-market capitalism and crony capitalism or “corporatism” causing wealth inequality. The free-market voluntary exchange of goods and services benefits both buyers and sellers. Government interference compounds errors by attempting to solve problems of too much debt and spending with more debt and spending.