24 September 2011 0 Comments

General Electric Receives EPA’s First Greenhouse Gas Waiver: Rent Seeking Corporatism on Public Display

RedState’s Tabitha Hale points out an obvious economic principle and draws our attention to yet more special treatment for one of the  Obama Administration’s favorite Big Businesses

Tabitha Hale goes on to explain “Rent Seeking”, “Waivers” and how regulations give government agencies control of Big Business and how Big Business is all too willing to negotiate… at the expense of the rest of us.

“Basic economics says that competition drives down prices. Government support eliminates competition. Prices go up. This isn’t hard.”

“53% of GE’s employees are not based in the US.”

“Let’s do a quick recap. As National Review points out, back in 2009, Obama awarded GE $24.9 million in stimulus funds, and “roughly $20 billion more slated for health care record modernization of the kind that GE specializes in — ‘with a direct request to do so from GE’s CEO Jeffrey Immelt.’” Then last month, the President appointed Jeffrey Immelt, the CEO of General Electric, to his Head Council of Competitiveness and Jobs.”

A picture and the public record tell us what real world “rent seeking”, called “corporate welfare” in the vernacular and, politically, called “Corporatism”. No conspiracies here; all is done on the public record. Are we willing to see what there is to be seen?

 

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