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The overpriced [[NFL]] is a prominent example of crony capitalism, such that the [[Washington Commandeers]] (the [[politically correct]] new name for the Washington Redskins) could fetch $6 billion in a sale in 2023 even though the game is little more tha
Crony capitalism also can work to the disadvantage of workers and consumers, for example when coal-burning electric plants import cheaper coal because of lower foreign labor costs, American coal miners are laid off due to [[EPA]] regulations, and consumers see no reduction in electric rates.
The overpriced [[NFL]] is a prominent example of crony capitalism, such that the [[Washington Commandeers]] (the [[politically correct]] new name for the Washington Redskins) could fetch $6 billion in a sale in 2023 even though the game is little more than obese people banging their heads together while [[addiction|addicted]] fans and [[gambling|gamblers]] watch. Examples of crony capitalism include the heavily taxpayer-subsided [[NFL]], when enriches its billionaire owners, and [[Michael Bloomberg]]'s vast fortune from selling overpriced [[stock market]] video terminals to [[Wall Street]] investment banks. One of the poorest and most crime-ridden cities in the [[United States]], [[St. Louis]], [[Missouri]], is in heavy debt due to building a stadium for the billionaire owner of the [[Los Angeles]] Rams, who subsequently moved the team away. Then attorneys were enriched as part of a massive settlement when St. Louis sued the NFL over the move.
Crony capitalism is fully compatible with [[socialism]].<ref>Philipp, Joshua (August 7, 2019). [https://www.theepochtimes.com/the-corrupt-romance-between-big-business-and-socialism_2977800.html The Corrupt Romance Between Big Business and Socialism]. ''The Epoch Times''. Retrieved August 7, 2019.</ref>
