Vanderbilt University's chapter of Young Americans for Liberty, a pro-Ron Paul Libertarian student group, is hosting an event in honor of National Expose Cronyism Day at the Sarratt Student Center Promenade from 11 a.m. to 2 p.m. today.
According to Vanderbilt YAL president Kenny Tan:
Disgusted with the recent bailouts of banks and corporations in the U.S., Crony Capitalism is Phony Capitalism was formed in 2011 to educate young adults about the connection between big government and cronyism. Additionally, this initiative hopes to encourage youth activists to independently take action to fight cronyism in the pursuit of economic freedom. Crony Capitalism is Phony Capitalism has equipped campus groups with materials for National Expose Cronyism Day to educate students’ on their campuses of the ill effects of cronyism.
Crony capitalism is a form of socialism mischaracterized as capitalism and relies on cozy relationships between business executives and government officials; this coziness may take the form of favoritism in the distribution of government grants, tax breaks, subsidies, and/or legal permitting. YAL@VU finds it imperative to bring light to this issue on Vanderbilt’s campus.