These arrangements enrich some politicians and CEOs while impoverishing everyone else. The resulting rising income inequality is deliberate, not an accidental slip of some clumsy invisible hand of the market.
If, as the adage goes, an ounce of prevention is worth a pound of cure, then the weight of the recent landmark speeches by Messrs. Obama, Christie and McDonnell is telling... maybe.
Capitalist theory asserts that CEOs rise to the top based on merit and moxie and deserve million-dollar pay packages. Turns out, though, capitalism doesn't really work that way. Conniving Jonnies rule the business world.