Wayne Crews and I wrote the corporate welfare section. Here’s a taste:
One of government’s primary current undertakings is transferring wealth. Many such transfers are from taxpayers to corporations. Before the financial crisis and recession, these transfers were called corporate welfare. Now they are called stimulus, bailouts, or infrastructure investments. But a rose by any other name has thorns just as sharp…
Corporate welfare, whether in the form of subsidies or competitor-hampering regulations, creates distortions and inefficiencies, injures consumers, and undermines the evolving, competitive market process.
PDF version here.