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.
Crony Capitalism versus Pure Capitalism
By Walter E. Block
This
article
appeared in
the Winter 2018/19 issue of The Independent Review.
Banking and FinanceBusiness and EntrepreneurshipEconomyFree Market EconomicsGovernment and PoliticsGovernment PowerLaw and LibertyPolitical TheoryPublic Choice
Other Independent Review articles by Walter E. Block | |
Spring 2022 | The Ethics of Liberty |
Fall 2015 | A Troublesome Inheritance:Genes, Race and Human History |
Spring 2007 | Chesterton and Belloc:A Critique |