If one individual, or one class, can call in the aid of…
“If one individual, or one class, can call in the aid of authority to ward off the effects of competition, it acquires a privilege and at the cost of the whole community; it can make sure of profits not altogether due to the productive services rendered, but composed in part of an actual tax upon consumers for its private profit' which tax it commonly shares with the authority that thus unjustly lent its support.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
When a group uses government power to block competition, it gains profit by taxing consumers rather than by productive work.
In simple terms: Privileged groups profit by exploiting government support and consumer taxes.
Key Takeaway
Beware of cronyism and its hidden costs.
Themes
economics
politics
competition
taxation
inequality
Mood
cautious
critical
concerned
Type
analytical
political
When to use this quote
- Regulatory lobbying
- government subsidies
- antitrust enforcement
- consumer protection
- business ethics
Key Concepts
Crony capitalism
market distortion
public choice
Questions to Reflect On
- How does cronyism affect market fairness?
- What policies can limit privileged tax advantages?
A Different Perspective
Such arrangements can stifle innovation and harm overall welfare.