This is the Cato Daily Podcast from Monday, March 5th, 2012.

I'm Caleb Brown.

Defending the morality of capitalism from the attacks of commies, broadly construed, is one thing, but defending

capitalism from the attacks of cronies is equally important. So says Cato Institute's

senior fellow Tom Palmer, he spoke at the Cato Institute's Benefactor Summit in February.

I want to talk a little bit about the twin challenges that we face.

We focus for so long on the ideological challenge posed by commies, if you will,

leftist, people who hate the market economy. But I think cronyism is equally a very

serious and formidable foe.

The work that we do is to take this on.

I have an interesting set of jobs with both Cato and Atlas.

I'm on the road pretty much all year round promoting our

values and I get around. I go to various interesting places just a couple from the

last year. This is with their libertarian colleagues in Nepal who are fighting

off a Maoist insurgency. If you think you have it bad, imagine a parliament with two-thirds

of the members are communists and over half of them are Maoists.

And that is the situation that they face right now

trying to defend property rights, market economy,

and our values.

Similarly, in other places this was in Warsaw, recently at the Warsaw School of Economics, in

Wuge also in Poland where we have a very active partner there.

This is crossing over the Hindu Kush with some of our

...