By-Product of Big Government
By Randall G. Holcombe
Although the term crony capitalism has rarely been used in the academic literature, its componentsrent seeking, regulatory capture, political entrepreneurship, and interest-group politicshave 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 2021/22||Towards an Economics of Natural Equals:A Documentary History of the Early Virginia School|
|Summer 2021||Populism:Promises and Problems|
|Summer 2021||A Declaration and Constitution for a Free Society:Making the Declaration of Independence and U.S. Constitution Fully Consistent with the Protection of Individual Rights|
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