Book review: Crony Capitalism in America
from CFA Institute's Enterprising Investor
According to this provocative book, the U.S. economy is morphing into crony capitalism, a system in which business success is fostered by relationships between business and government. To gain a competitive edge or to limit competition, business interests lobby the government to tilt — rather than level — the playing field by granting their particular companies special favors. The end result is a system in which the few are enriched at the expense of the many.
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