Search results
B. Rent-Seeking and Crony Capitalism Compared. Rent-seeking can occur in three basic fashions: direct, indirect, or rent extraction. Direct rent-seeking occurs when an interest group is provided with a benefit that directly benefits it, such as a tariff, regulated monopoly (such as a licensed profession), or subsidy, such as subsidies for particular agricultural commodities.
- Todd Zywicki
- 2015
This Article discusses “crony capitalism,” a form of rent-seeking, and its sources. Although the term crony capitalism is generally applied to non-Western economies, any economy is susceptible to three primary sources of cronyism: standard special interest legislation, “bootlegger and Baptist” coalitions, and pathological altruism. Identifying cronyism requires care, as what appears to ...
May 29, 2014 · come to be known as “crony capitalism.” The engine of crony capitalism is the process known as rent-seeking, a term coined by the great economist Gordon Tullock to describe the process by which these well-organized interest groups pursue government favors.2 Tullock’s profound insight was that the
structural-systemic conceptualization: Crony capitalism is seen as a modern version of a rent seeking society, a form or neo-mercantilism. Consequently, crony capitalist countries should be added to the population of cases of rent-seeking societies, alongside the types of economic systems that
Jan 31, 2016 · Unlike simple models of political rent-seeking, in which businesses use government to advance their own interests in exchange for electoral support, under crony capitalism politicians and regulators use businesses to advance the interests of politicians and interest groups in a symbiotic relationship: government creates rents and then distributes them to itself and favored interests.
Aug 27, 2015 · Unlike simple models of political rent-seeking, in which businesses use government to advance their own interests in exchange for electoral support, under crony capitalism politicians and regulators use businesses to advance the interests of politicians and interest groups in a symbiotic relationship: government creates rents and then distributes them to itself and favored interests.
People also ask
Is crony capitalism a form of rent-seeking?
Should crony capitalists create economic rents?
Should crony capitalist countries be added to the population of rent-seeking societies?
What is crony capitalism?
Is crony capitalism a neo-mercantilism?
Do crony relations prevent rent dissipation?
Apr 10, 2014 · The argument leads to a pioneering attempt to elaborate an original theory of crony capitalism as a sui generis system and with that end in view it combines three complementary perspectives: microeconomics (dealing with the basic economics of rent-seeking), institutional or structural (dealing with the specific structures and configurations of institutions, policies and processes via which ...
