The difference between crony capitalism and pragmatic capitalism

The difference between crony capitalism and pragmatic capitalism

Walt Back asks a pertinent and important question: will we become a nation of united Americans? [“When do we become a nation of united Americans?” March 7]. The answer to Back’s question, based on his implicit premise that voting for the so-called “conservatives who make America great” will do, is a resounding “no.”

Back writes, “We need informed voters who understand and appreciate our American history.” How ironic. Back attacks the Biden administration for “adding trillions of dollars to our national debt.” In fact, it was the Trump administration that added $7.8 trillion to our national debt. [a record,] Trump and Republican politicians doled out $2 trillion to the ultra-rich in 2017, with Trump bragging to a group of wealthy donors at Mar-a-Lago – “You’ve all gotten a lot richer.”

Let’s get to the root of the problem here. Back does not understand the difference between crony capitalism and pragmatic capitalism. Crony capitalism that benefits the few is what Trump and the Republicans stand for. They plunder the economy. Pragmatic capitalism, designed to benefit the greatest number, is what the Democrats stand for, and what Back wrongly calls socialism, where the state owns the means of production. Let’s teach critical thinking in our schools.

Laverne Grey, Lake Wales

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