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|
|Spring 2021||Believe in People:Bottom-Up Solutions for a Top-Down World|
|Spring 2021||Deaths of Despair and the Future of Capitalism; The Great Reversal: How America Gave Up on Free Markets|
|Winter 2020/21||Political Capitalism:How Economic and Political Power Is Made and Maintained|
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