Crony capitalism is an economic system…

Economics Jun 25, 2023

Crony capitalism is an economic system where business success hinges on close ties with govt officials rather than market forces. It’s marked by favoritism, regulatory capture, corruption, suppressed competition, inequality & misallocation of resources. It's distinct from free-market capitalism, leading often to inefficiencies, wealth concentration, and social unrest. Tackling it demands transparency, robust legal frameworks against corruption, and independent regulation.🏦💼👨‍💼🔄🔗#CronyCapitalism #Economics #Government #Business #Transparency #Corruption

https://mises.org/library/progressive-era-and-rise-crony-capitalism

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