Crony capitalism is a pox that has always infected real markets and is likely to rear its ugly head even more in the future. Although Munger and Villarreal-Diaz offer an important theory in support of this claim, their superb essay makes a few points worth disputing if only to better ward off crony capitalism.

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Other Independent Review articles by Walter E. Block
    Fall 2015   A Troublesome Inheritance
    Spring 2007   Chesterton and Belloc