Recently Mike Konczal (\u201c\u2018Corporatism’ is the Latest Hysterical Accusation,\u201d The New Republic, December 15) attacked \u201ccorporatism\u201d as a pernicious meme, ostensibly aimed at exposing Obama’s policies for \u201cenriching the well-off\u201d but in reality a \u201creactionary\u201d agenda freeing big business from accountability.<\/p>\n
I think he underestimates the extent to which the \u201ccorporatism\u201d and \u201ccrony capitalism\u201d critiques reflect a genuine opposition to collusion between big government and big business. For some on the maintream Right, like Sarah Palin and Newt Gingrich, it’s obviously a facile political maneuver unmistakable apologists for a right-wing, pro-corporate economic agenda. But even in the case of some on the Right, I think opposition to \u201ctoo big to fail\u201d and bailouts is closer in spirit to those of us on the anti-corporate Left than to those on the Center-Left like Konczal.<\/p>\n
Of course even the sincere right-wing critiques of \u201ccrony capitalism\u201d are woefully inadequate. Most of them focus mainly on criticism of Obama-era policies like subsidies to Solyndra, or at most take a few shots at George W. Bush’s TARP program and Medicare D as deviations from Reaganite orthodoxy. At best, they see \u201ccorporatism\u201d and \u201ccrony capitalism\u201d as something fairly recent that started with the Federal Reserve Act or New Deal, as deviations from the purer laissez-faire of previous years.<\/p>\n