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Crony Capitalism: By-Product of Big Government
By Randall G. Holcombe
This article appeared in the Spring 2013 issue of The Independent Review


Abstract

Although the term crony capitalism has rarely been used in the academic literature, its components—rent seeking, regulatory capture, political entrepreneurship, and interest-group politics—have been studied extensively. Their common element is the political use of power to benefit some at the expense of others, a phenomenon that grows as the profitability of businesses comes to depend on how well businesses can secure subsidies, tax breaks, and regulations that work in their favor.



Other Independent Review articles by Randall G. Holcombe
    Winter 2014   Consenting to Collective Action: The Classical Liberal Constitutional Calculus of James M. Buchanan
    Fall 2013   The Public Debt Problem: A Comprehensive Guide
    Fall 2012   Make Economics Policy Relevant: Depose the Omniscient Benevolent Dictator
[View All (13)]



Volume 17 Number 4
Spring 2013

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