Report: ‘Crony Capitalism’ Hurts the US Economy
Cozy relationships among private interest groups and government officials have stunted economic growth, according to a new report by the Committee for Economic Development, a nonpartisan group of corporate executives that offers policy prescriptions for fiscal problems.
In the report, the organization calls for curbs on the so-called revolving door between Congress and lobbying firms and for overhauling the campaign-finance system, two popular ideas on the 2016 campaign trail.
The report, titled “Crony Capitalism: Unhealthy Relations Between Business and Government,” says the spiking cost of running campaigns, combined with lobbyists’ mounting influence in Washington, have “exerted an important toll on the U.S. economy.”
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