Crony Capitalism can be defined as an economy that is technically a “free market” but allows special regulations, advantages, and other government interventions based on personal relationships. In such a system, the false appearance of "pure" capitalism is publicly maintained to preserve the exclusive influence of well-connected individuals.
Does Florida have Crony Capitalism? The answer is, not any more.
Florida did have an economic development organization called Enterprise Florida that functioned as a system of legalized corruption and cronyism. Integrity Florida wrote and published three research reports (see below) that concluded that government agencies like Enterprise Florida that permit crony capitalism should be overhauled or eliminated. Government should not be subsidizing some businesses at the expense of other businesses through tax subsidies in the name of “job creation” and “economic development.”
Enterprise Florida – Crony Capitalism
Following the publication of the three Integrity Florida research reports, in 2023, the Florida legislature voted to shut down the public-private partnership known as Enterprise Florida. Gov. Ron DeSantis signed the bill (HB 5) to rearrange Florida’s economic development programs, reverting the Department of Economic Opportunity back to its old name as the Department of Commerce and shuttering Enterprise Florida, the public-private business development group.
What Florida Needs.
State and local government policies should be free of favoritism and instead be focused on creating vibrant free-market communities where every employer matters and entrepreneurship thrives.