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Author: Jay Cost
Publisher: Encounter Books
ISBN: 1594038724
Category : Political Science
Languages : en
Pages : 48
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Book Description
Cronyism is a serious problem in the United States, but unfortunately it is still not very well understood. In this new essay, Jay Cost explains what it is, and why we should be so worried about it. By mingling private and public interests, cronyism costs us hundreds of billions of dollars per year and threatens to transform our republic into an oligarchy, where the rich dominate the middle class. Worse, modern cronyism has become embedded into the laws themselves, so politicians in Washington assume that such corruption is just the way things should be. To confront the dangers of cronyism, reformers need to think outside the box, paying special attention to how the political process functions.
Author: Jay Cost
Publisher: Encounter Books
ISBN: 1594038724
Category : Political Science
Languages : en
Pages : 48
Get Book
Book Description
Cronyism is a serious problem in the United States, but unfortunately it is still not very well understood. In this new essay, Jay Cost explains what it is, and why we should be so worried about it. By mingling private and public interests, cronyism costs us hundreds of billions of dollars per year and threatens to transform our republic into an oligarchy, where the rich dominate the middle class. Worse, modern cronyism has become embedded into the laws themselves, so politicians in Washington assume that such corruption is just the way things should be. To confront the dangers of cronyism, reformers need to think outside the box, paying special attention to how the political process functions.
Author: Stephen Haber
Publisher: Hoover Institution Press
ISBN: 0817999663
Category : Business & Economics
Languages : en
Pages : 158
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Book Description
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: Randall G. Holcombe and Andrea M. Castillo
Publisher: Mercatus Center at George Mason University
ISBN: 0989219305
Category : Political Science
Languages : en
Pages : 144
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Book Description
Political and economic systems either allow exchange and resource allocation to take place through mutual agreement under a system of liberalism, or force them to take place under a system of cronyism in which some people have the power to direct the activities of others. This book, published by the Mercatus Center at George Mason University, seeks to clarify the differences between liberalism and cronyism by scrutinizing the actual operation of various political and economic systems. Examples include historical systems such as fascism in Germany between the world wars and socialism in the former Soviet Union, as well as contemporary systems such as majoritarianism and industrial policy. By examining how real governments have operated, this book demonstrates why—despite their diverse designs—in practice all political and economic systems are variants of either liberalism or cronyism.
Author: Ishac Diwan
Publisher: Oxford University Press
ISBN: 0192559923
Category : Political Science
Languages : en
Pages : 528
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Book Description
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: Luigi Zingales
Publisher: Basic Books
ISBN: 0465038700
Category : Business & Economics
Languages : en
Pages : 336
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Book Description
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: John B. Taylor
Publisher: London Publishing Partnership
ISBN: 0255367201
Category : Business & Economics
Languages : en
Pages : 113
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Book Description
John Taylor is one of the foremost economists of our generation. His ideas were implemented in central banks across the world during the period of price stability, economic growth and financial stability that followed the 1980s. Of course, this period culminated in the financial crisis of 2008, which was followed by a very slow recovery, which, eight years on, can hardly be said to be complete. This short book presents Taylor’s view of the financial crisis and its aftermath as expressed in the 2014 F. A. Hayek Memorial Lecture. He believes that the rules-based monetary policy that he espoused broke down in the run-up to the crisis and afterwards. Furthermore, other aspects of policy became erratic and discretionary to the point that the rule of law could be said to be under threat. According to the author, these problems contributed to the crisis and to the slow recovery – indeed, they were a major cause. Two commentaries follow John Taylor’s lecture. One is by Patrick Minford and the other is by the Bank of England’s Chief Economist Andrew Haldane and Amar Radia. Both recognise Taylor’s immense contribution to economic theory and policy. The commentaries are themselves an important contribution and they are followed by a response from John Taylor which addresses the issues raised by the commentators.
Author: Jay Cost
Publisher: Encounter Books
ISBN: 1594038686
Category : Political Science
Languages : en
Pages : 408
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Book Description
After the Constitutional Convention, Benjamin Franklin was asked, “Well, Doctor, what have we got—a Republic or a Monarchy?” Franklin’s response: “A Republic—if you can keep it.” This book argues: we couldn’t keep it. A true republic privileges the common interest above the special interests. To do this, our Constitution established an elaborate system of checks and balances that disperses power among the branches of government, which it places in conflict with one another. The Framers believed that this would keep grasping, covetous factions from acquiring enough power to dominate government. Instead, only the people would rule. Proper institutional design is essential to this system. Each branch must manage responsibly the powers it is granted, as well as rebuke the other branches when they go astray. This is where subsequent generations have run into trouble: we have overloaded our government with more power than it can handle. The Constitution’s checks and balances have broken down because the institutions created in 1787 cannot exercise responsibly the powers of our sprawling, immense twenty-first-century government. The result is the triumph of special interests over the common interest. James Madison called this factionalism. We know it as political corruption. Corruption today is so widespread that our government is not really a republic, but rather a special interest democracy. Everybody may participate, yes, but the contours of public policy depend not so much on the common good, as on the push-and-pull of the various interest groups encamped in Washington, DC.
Author: Peter Schweizer
Publisher: Houghton Mifflin Harcourt
ISBN: 0547573146
Category : Political Science
Languages : en
Pages : 245
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Book Description
Schweizer, a research fellow at the Hoover Institution at Stanford University, discusses the state of government and the depths of its political corruption.
Author: Pierre Lemieux
Publisher: Rowman & Littlefield
ISBN: 1538122138
Category : Political Science
Languages : en
Pages : 142
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Book Description
Putting tariffs on imported goods or setting other barriers to international trade can be tempting for politicians. They assume that many of their constituents believe that free trade is not fair trade and that other countries aren’t playing by the rules. This belief makes it easy for industry leaders to demand protection for their businesses and their workers—to “put America first.” But Americans should resist the siren calls of protectionism. In this highly relevant protectionism primer, Pierre Lemieux shows what can happen if they don’t. As the author demonstrates, trade between any two countries is fair for the same reasons as exchange between two individuals: it is to the benefit of both. Lemieux carefully refutes the arguments of those who would curtail Americans’ access to the benefits of international commerce—from the claim that we can boost economic growth by reducing imports to the belief that free trade leads to “shipping jobs overseas.” Yes, manufacturing jobs are declining in this country and have been since the 1950s. But, as Lemieux points out, that’s in large part because Americans are making more advanced products more efficiently—that’s our comparative advantage. And this is happening as less-developed countries are producing more labor-intensive, low-tech goods—that’s their comparative advantage. All parties to a trade benefit. Lemieux shows how free trade improves the lives of American consumers, especially the poor. The narrow agenda of the protectionists—to protect a small minority of producers at the expense of millions of their fellow Americans—is the wrong path for an increasingly diverse and complex economy. This concise primer shows you why.
Author: Minxin Pei
Publisher: Harvard University Press
ISBN: 0674737296
Category : History
Languages : en
Pages : 376
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Book Description
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.
