Challenging Cronyism
Russ and Mike engage in a thought-provoking conversation about the belief that the rich have unfairly benefitted from economic growth, leading to rampant cronyism. They explore the underlying reasons behind this belief and its impact on the current political landscape in America. While Russ challenges the notion, Mike highlights the dangers of concentrated wealth protected by the state. They discuss the importance of reclaiming the moral argument for markets and the need to present evidence that capitalism rewards virtue and hard work.In this clip
From this podcast
EconTalk
Michael Munger on Crony Capitalism
Related Questions
Is the political and economic system rigged in America as discussed in episode #240 - Supporter Stories and clip Economic Illusions, as well as in the episode Michael Munger on Crony Capitalism and clip The Road to Crony Capitalism?
Is the political and economic system rigged in America as discussed in episode #240 - Supporter Stories and clip Economic Illusions, as well as in the episode Michael Munger on Crony Capitalism and clip The Mistakes of 2008?
Is the political and economic system rigged in America as discussed in the episode Daron Acemoglu on Inequality, Institutions, and Piketty and the clip Political Inequality and Antitrust Regulation?