Crony Capitalism

Author : Anders Aslund
Publisher : Yale University Press
Page : 336 pages
File Size : 40,5 Mb
Release : 2019-05-23
Category : History
ISBN : 9780300244861

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Russia's Crony Capitalism by Anders Aslund Pdf

A penetrating look into the extreme plutocracy Vladimir Putin has created and its implications for Russia’s future This insightful study explores how the economic system Vladimir Putin has developed in Russia works to consolidate control over the country. By appointing his close associates as heads of state enterprises and by giving control of the FSB and the judiciary to his friends from the KGB, he has enriched his business friends from Saint Petersburg with preferential government deals. Thus, Putin has created a super wealthy and loyal plutocracy that owes its existence to authoritarianism. Much of this wealth has been hidden in offshore havens in the United States and the United Kingdom, where companies with anonymous owners and black money transfers are allowed to thrive. Though beneficial to a select few, this system has left Russia’s economy in untenable stagnation, which Putin has tried to mask through military might.

Author : David C. Kang
Publisher : Cambridge University Press
Page : 222 pages
File Size : 51,5 Mb
Release : 2002-01-24
Category : Business & Economics
ISBN : 052100408X

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Crony Capitalism by David C. Kang Pdf

Even in Korea, corruption was far greater than the conventional wisdom allows - so rampant was corruption that we cannot dismiss it; rather, we need to explain it."--BOOK JACKET.

Author : Minxin Pei
Publisher : Harvard University Press
Page : 376 pages
File Size : 52,7 Mb
Release : 2016-10-03
Category : History
ISBN : 9780674737297

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China’s Crony Capitalism by Minxin Pei Pdf

China’s efforts to modernize yielded a kleptocracy characterized by corruption, wealth inequality, and social tensions. Rejecting conventional platitudes about the resilience of Party rule, Minxin Pei gathers unambiguous evidence that beneath China’s facade of ever-expanding prosperity and power lies a Leninist state in an advanced stage of decay.

Author : Ishac Diwan,Adeel Malik,Izak Atiyas
Publisher : Oxford University Press
Page : 528 pages
File Size : 51,9 Mb
Release : 2019-05-23
Category : Political Science
ISBN : 9780192559920

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Crony Capitalism in the Middle East by Ishac Diwan,Adeel Malik,Izak Atiyas Pdf

The popular uprisings in 2011 that overthrew Arab dictators were also a rebuke to crony capitalism, diverted against both rulers and their allied businessmen who monopolize all economic opportunities. While the Middle East has witnessed a growing nexus between business and politics in the wake of liberalization, little is discussed about the nature of business cronies, the sectors in which they operate, the mechanisms used to favour them, and the possible impact of such crony relations on the region's development. Combining inputs from leading scholars in the field, Crony Capitalism in the Middle East: Business and Politics from Liberalization to the Arab Spring presents a wealth of empirical evidence on the form and function of this aspect of the region. Crony Capitalism in the Middle East is unique in both its empirical focus and comparative scale. Analysis in individual chapters is empirically grounded and based on fine-grained data on the business activities of politically connected actors furnishing, for the first time, information on the presence, numerical strength, and activities of politically connected entrepreneurs. It also substantially enhances our understanding of the mechanisms used to privilege connected businesses, and their possible impact on undermining the growth of firms in the region. It offers a major advance on our prior knowledge of Middle Eastern political economy, and constitutes a distinct contribution to the global literature on crony capitalism and the politics of development. The book will be an essential resource for students, researchers, and policymakers alike.

Author : Naresh Khatri
Publisher : Routledge
Page : 165 pages
File Size : 42,8 Mb
Release : 2021-07-13
Category : Business & Economics
ISBN : 9781000433685

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Crony Capitalism in US Health Care by Naresh Khatri Pdf

The US political system has come to depend upon money too much. The US health care industry spends the most on political lobbying among all the 13 industrial sectors in the US economy. The government regulatory agencies at both federal and state levels have been "captured" by the health industry interest groups meaning that the regulatory agencies respond to the interests of the industry but not those of citizens. This book employs a broad theoretical framework of crony capitalism to understand US health care system dysfunction. This framework has not been applied before in any serious manner to understand the shortcomings in the US health care system. Specifically, the book examines the role of seven key players using this framework - politicians/interest groups, pharmaceutical companies, private health insurers, hospitals/hospital networks, physicians, medical device manufacturers, and the American public. Crony capitalism is a destructive force and is rampant in US health care system, causing much waste, inefficiencies, and malaise in the system. Current efforts and initiatives, such as patient-centered medical homes and precision medicine, for improving/reforming the system are of mere academic interest and tantamount to taking aspirin to treat cancer. They do not even pretend to address the root cause of the problem, namely, crony capitalism. Offering prescriptions to fix the U.S. health care system based on a comprehensive diagnosis of the dysfunction, this book will be of interest to researchers, academics, policymakers, and students in the fields of health care management, public and non-profit management, health policy, administration, and economics, and political science.

Author : Stephen Haber
Publisher : Hoover Institution Press
Page : 158 pages
File Size : 40,5 Mb
Release : 2013-11-01
Category : Business & Economics
ISBN : 9780817999667

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Crony Capitalism and Economic Growth in Latin America by Stephen Haber Pdf

Crony capitalism systems—in which those close to political policymakers receive favors allowing them to earn returns far above market value—are a fundamental feature of the economies of Latin America. Haber and his expert contributors draw from case studies in Mexico, Brazil, and other countries around the world to examine the causes and consequences of cronyism.

Author : James T. Bennett
Publisher : Routledge
Page : 238 pages
File Size : 53,9 Mb
Release : 2017-07-05
Category : Business & Economics
ISBN : 9781351525732

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Corporate Welfare by James T. Bennett Pdf

From the time of Alexander Hamilton's "Report on Manufactures" through the Great Depression, American towns and cities sought to lure footloose companies by offering lavish benefits. These ranged from taxpayer-financed factories, to tax exemptions, to outright gifts of money. This kind of government aid, known as "corporate welfare," is still around today. After establishing its historical foundations, James T. Bennett reveals four modern manifestations.His first case is the epochal debate over government subsidy of a supersonic transport aircraft. The second case has its origins in Southern factory relocation programs of the 1930sthe practice of state and local governments granting companies taxpayer financed incentives. The third is the taking of private property for the enrichment of business interests. The fourthexport subsidieshas its genesis in the New Deal but matured with the growth of the Export-Import Bank, which subsidizes international business exchanges of America's largest corporate entities.Bennett examines the prospects for a successful anti-corporate welfare coalition of libertarians, free market conservatives, Greens, and populists. The potential for a coalition is out there, he argues. Whether a canny politician can assemble and maintain it long enough to mount a taxpayer counterattack upon corporate welfare is an intriguing question.

Author : Raymond J. Learsy
Publisher : iUniverse
Page : 377 pages
File Size : 51,9 Mb
Release : 2013-07
Category : Political Science
ISBN : 9781475994513

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Ruminations on the Distortion of Oil Prices and Crony Capitalism by Raymond J. Learsy Pdf

At great cost and risk to the American and world economies, consumers are ripped off billions of dollars every day by oil interests and their malevolent influence on market pricing mechanisms. It's essential Americans and oil consumers throughout the world understand where the money they pay for oil's downstream products goes including the money paid at the pump, the money paid to heat their homes, and the money paid for the array of other petroleum-based products. In Ruminations on the Distortion of Oil Prices and Crony Capitalism, author Raymond J. Learsy not only discusses the distortion of oil pricing, but also focuses on effects of the crony capitalism that has enriched a select few and left Main Street in the lurch as a result of government mismanagement, moneyed influence, and craven oversight. This collection of previously published writings shows how speculators ratchet up the prices of basic material goods essential to daily lives. Learsy describes how ceding the determination of those prices not to the laws of supply and demand but predominantly to gambling dens on the trading floors of commodity exchanges as well as the price fixing collusion of producer nations (OPEC) is crippling to the world's economy. Focusing as well on Wall Street's corrupting influence on the price of oil, gasoline, and other commodities, Ruminations on the Distortion of Oil Prices and Crony Capitalism provides an overview of the basic and important theme: the United States' enslavement to oil and the moneyed interests inextricably tied to it.

Author : Harvey E Yates, Jr
Publisher : Unknown
Page : 0 pages
File Size : 51,9 Mb
Release : 2012
Category : Electronic
ISBN : 1937654478

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Governor Richardson and Crony Capitalism by Harvey E Yates, Jr Pdf

Author : Naresh Khatri,Abhoy Ojha
Publisher : Springer
Page : 228 pages
File Size : 46,8 Mb
Release : 2017-07-17
Category : Business & Economics
ISBN : 9781137582874

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Crony Capitalism in India by Naresh Khatri,Abhoy Ojha Pdf

Crony Capitalism in India provides a comprehensive and scholarly examination of the important topic of crony capitalism, filling an important gap in the market. Bringing together experts from various backgrounds, it addresses the key underpinnings of this complex and multifarious issue. Given the emergent nature of the Indian economy, this book provides important information for decision makers in both government and business to help establish a robust institutional framework that is so desperately needed both in India and globally.

Author : Hunter Lewis
Publisher : Ac2 Books
Page : 0 pages
File Size : 55,5 Mb
Release : 2013
Category : Capitalism
ISBN : 0988726726

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Crony Capitalism in America by Hunter Lewis Pdf

We see it everywhere: shady deals between politicians, regulators, and powerful private interests. Increasingly this is how our economy is run. If we are going to do anything about our present economic problems, and give the poor a chance, we need to eliminate crony capitalism. Although full of hair-raising stories, this book is also about solution

Author : Danilo Rocha Limoeiro
Publisher : Routledge
Page : 208 pages
File Size : 52,5 Mb
Release : 2020-06-04
Category : Business & Economics
ISBN : 9781000088601

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Economic Growth, Inequality and Crony Capitalism by Danilo Rocha Limoeiro Pdf

Researchers in international development have long argued that the high costs of doing business harms prosperity in developing countries, a claim that invites the question of why governments impose these costs and why societies fail to enact reforms reducing them. This book seeks to answer the question by looking at the case of Brazil, a large and highly unequal economy riddled with state-imposed transaction costs. By delving into the political dynamics underlying a costly business environment, this book provides the reader with novel insights into crony capitalism and inequality. It argues that the root cause of a costly business environment is the collusion between political actors, bureaucrats and business insiders. Politicians and bureaucrats relish their discretion over rules and policies as a power resource, since they can increase or decrease the costs of doing business faced by firms and sectors. Business insiders collude with government agents to access the loopholes that decrease the cost of doing business, thus gaining a competitive edge over outsiders. This gives the insiders weaker preferences for reforms that could decrease the overall cost of doing business. By pursuing their self-interest, these actors create a low-level equilibrium that perpetuates crony capitalism and inequality to the detriment of overall prosperity. The book makes its case with a sophisticated combination of formal modeling, quantitative analyses and in-depth case studies of tax policy and of the pharmaceutical and agricultural sectors in Brazil. Observers have declared the need for reforms that improve the business environment in developing countries for a long time. However, the findings presented in this book suggest they might have underestimated the challenge ahead. Scholars and policy-makers in international development, business politics and political economy will be interested in the innovative perspective of this book.

Author : Luigi Zingales
Publisher : Basic Books
Page : 336 pages
File Size : 53,8 Mb
Release : 2014-02-11
Category : Business & Economics
ISBN : 9780465038701

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A Capitalism for the People by Luigi Zingales Pdf

Born in Italy, University of Chicago economist Luigi Zingales witnessed firsthand the consequences of high inflation and unemployment—paired with rampant nepotism and cronyism—on a country's economy. This experience profoundly shaped his professional interests, and in 1988 he arrived in the United States, armed with a political passion and the belief that economists should not merely interpret the world, but should change it for the better. In A Capitalism for the People, Zingales makes a forceful, philosophical, and at times personal argument that the roots of American capitalism are dying, and that the result is a drift toward the more corrupt systems found throughout Europe and much of the rest of the world. American capitalism, according to Zingales, grew in a unique incubator that provided it with a distinct flavor of competitiveness, a meritocratic nature that fostered trust in markets and a faith in mobility. Lately, however, that trust has been eroded by a betrayal of our pro-business elites, whose lobbying has come to dictate the market rather than be subject to it, and this betrayal has taken place with the complicity of our intellectual class. Because of this trend, much of the country is questioning—often with great anger—whether the system that has for so long buoyed their hopes has now betrayed them once and for all. What we are left with is either anti-market pitchfork populism or pro-business technocratic insularity. Neither of these options presents a way to preserve what the author calls “the lighthouse” of American capitalism. Zingales argues that the way forward is pro-market populism, a fostering of truly free and open competition for the good of the people—not for the good of big business. Drawing on the historical record of American populism at the turn of the twentieth century, Zingales illustrates how our current circumstances aren't all that different. People in the middle and at the bottom are getting squeezed, while people at the top are only growing richer. The solutions now, as then, are reforms to economic policy that level the playing field. Reforms that may be anti-business (specifically anti-big business), but are squarely pro-market. The question is whether we can once again muster the courage to confront the powers that be.

Author : Paranjoy Guha Thakurta,Subir Ghosh,Jyotirmoy Chaudhuri
Publisher : Paranjoy Guha Thakurta
Page : 588 pages
File Size : 40,6 Mb
Release : 2014-03-30
Category : Business & Economics
ISBN : 9788192855134

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GAS WARS by Paranjoy Guha Thakurta,Subir Ghosh,Jyotirmoy Chaudhuri Pdf

Prime minister of India Manmohan Singh has been accused of changing ministerial portfolios at the behest of the Reliance group. There have been claims that the group deliberately ‘squatted’ on reserves of natural gas and curtailed production in anticipation of higher prices that are administered by the government, to the detriment of the interests of the country’s people. Spokespersons of the group deny these alligations and contend that gas output from the Krishna-Godavari basin came down on account of unforeseen adverse geological surprises. Sections within the Indian government do not buy these arguments. The Comptroller and Auditor General of India has alleged, among other things, that the contract between the government and Reliance Industries Limited is deeply flawed, thereby encouraging excessive capital expenditure and lowering potential benefits to the exchequer. With painstaking research, a meticulous perusal of press reports, as well as a few surprising exclusives, Gas Wars highlights cases of crony capitalism that allowed the Reliance group to blatantly exploit loopholes which were consciously retained in the system to benefit it. The book points out how, even when laws and policies appeared fair, rational, and reasonable, the way in which these rules and procedures were framed and implemented by bureaucrats acting at the behest of their political masters exposed the deep nexus between business and politics in India. Even as Gas Wars tells the story of how a corporate conglomerate, in this case the country’s largest, has benefited from the way government policies are structured, it lays bare the alarming facts of a natural disaster waiting to happen due to the ruthless exploitation of the country’s natural resources in order to swell the fortunes of a few. The book also highlights the examples of those within the government establishment who have refused to be intimidated by the rich and the powerful, and who have against all odds valiantly attempted to uphold the interests of the people of India.

Author : Gulnaz Sharafutdinova
Publisher : Unknown
Page : 0 pages
File Size : 40,7 Mb
Release : 2022-09-30
Category : Electronic
ISBN : 0268206686

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Political Consequences of Crony Capitalism Inside Russia by Gulnaz Sharafutdinova Pdf

This book examines the coexistence of crony capitalism and traditionally democratic institutions such as political competition and elections in Russia after the collapse of communism. The combination, Gulnaz Sharafutdinova argues, has produced a distinct pattern of political evolution in contemporary Russia. Elections are meant to ensure government accountability and allow voters to elect a government responsive to their needs, but in postcommunist Russia the institutional forms of democracy did not result in the expected outcomes. Instead, democratic institutions in the context of crony capitalism--in which informal elite groups dominate policy making, and preferential treatment from the state, not market forces, is crucial to amassing and holding wealth--were widely devalued and discredited. As Sharafutdinova demonstrates, especially through her close scrutiny of elections in two regions of Russia, Nizhnii Novgorod and the Republic of Tatarstan, crony capitalism made elections especially intense struggles among the elites. Massive amounts of money flowed into campaigns to promote candidates by discrediting their rivals, money purchased candidates and power, and elites thereby solidified their control. As a result, the majority of citizens perceived elections as the means for the elite to access power and wealth rather than as expressions of public will. Through her detailed case studies and her analyses of contemporary Russia in general, Sharafutdinova argues persuasively that the turn toward authoritarianism associated with Vladimir Putin and supported by a majority of Russian citizens was a negative political response to the interaction of electoral processes and crony capitalism.