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Political Capitalism "How Economic and Political Power Is Made and Maintained"

Political Capitalism "How Economic and Political Power Is Made and Maintained"

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  • ISBN:9781108449908
  • Editorial: Cambridge University Press
  • Fecha de la edición:
  • Encuadernación:
  • Nº Pág.:304
  • Idiomas:Ingles,Inglés

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Problems associated with cronyism, corporatism, and policies that favor the elite over the masses have received increasing attention in recent years. Political Capitalism explains that what people often view as the result of corruption and unethical behavior are symptoms of a distinct system of political economy. The symptoms of political capitalism are often viewed as the result of government intervention in a market economy, or as attributes of a capitalist economy itself. Randall G. Holcombe combines well-established theories in economics and the social sciences to show that political capitalism is not a mixed economy, or government intervention in a market economy, or some intermediate step between capitalism and socialism. After developing the economic theory of political capitalism, Holcombe goes on to explain how changes in political ideology have facilitated the growth of political capitalism, and what can be done to redirect public policy back toward the public interest.

Describes political capitalism as a distinct system of political economy
Presents political capitalism as an explanation for the cronyism and corporatism that is widely criticized, and explains these activities as the symptoms of political capitalism
Uses the theories of rent-seeking, regulatory capture, interest group politics, and elite theory and shows how they explain political capitalism

1. The concept of political capitalism
2. Political capitalism as an economic system
3. The political and economic elite
4. Interest groups and political exchange
5. Political creation of economic rents
6. Transitional gains and rent extraction
7. The regulatory state
8. Capitalism versus democracy
9. The institutional evolution of political capitalism
10. Public policy and political capitalism
11. Is political capitalism inevitable?

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