Capitalism is generally excellent, but crony capitalism is definitely not.
The study found that, since 2001, Michigan lawmakers have forked over $16 billion in business subsidies and tax incentives. The study notes that that is more than the value of the state’s four major sports teams: the Lions, Red Wings, Tigers, and Pistons. That’s a bit of an understatement — it’s only a little less than four times the value of those franchises combined.
Related: "Crony capitalism against the real thing: Collusion between government and business corrupts the free market".