The Road to Crony Capitalism
By Michael C. Munger, Mario Villarreal-Diaz
Do free-market economies have inherent weaknesses that create long-run tendencies toward cronyism? If soand the evidence suggests this is the casethen the best dose of prevention may be to empower entrepreneurs who do not want to become rent seekers and constrain state actors from selling off rents in the first place.
|Other Independent Review articles by Michael C. Munger|
|Winter 2020/21||Political Capitalism:How Economic and Political Power Is Made and Maintained|
|Winter 2020/21||The Hand behind the Invisible Hand:Dogmatic and Pragmatic Views on Free Markets and the State of Economic Theory|
|Fall 2020||Understanding the Blockchain Economy:An Introduction to Institutional Cryptoeconomics|
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