Source: Foundation for Economic Education
by Ninos P Malek
“In a free market, businesses must satisfy customers to earn profits. Persistent losses can signal that resources would be better used elsewhere. Rather than rescuing failing firms with taxpayer money, the free-market perspective is to allow the market process to work. As I sometimes jokingly tell my students when explaining this principle, it’s time to say, ‘Bye-bye, die-die!’ to businesses that fail to satisfy consumer needs. (Figuratively speaking, of course.) Some call government favoritism crony capitalism. I dislike that expression because it still associates the problem with capitalism.” [editor’s note: Free markets and capitalism (“a mixed, state-regulated, industrial economy”) are opposites, and “crony capitalism” is a redundancy – TLK] (10/14/26)
https://fee.org/articles/stop-calling-it-capitalism-when-its-government-favoritism/