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Political Economy of Crony Capitalism: The Prospect and the Bane

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  • Opeyemi Idowu ALUKO

    (University of Ilorin, Nigeria.)

Abstract

The world over, capitalism had encroach the economy of nations turning governments against the people, employers against the workers all in the name of surplus values and profiteering motives. Although capitalism had made economies of nations to boom without much stress due to the fluid faces of its operations, nevertheless, it has more havocs than good. The review of most government policies has shifted to accommodate the growing bane of cronies of capitalism. This research shows the tactics employed by bourgeoisies in colliding with the government. What are the implications of these profiteering motives on the economy? The methodology adopted is the survey analysis of institutional data base. The theoretical framework of deprivation theory coupled with Marxian theory were used to x-tray the prospect and the bane of crony capitalism in the economy of polities.

Suggested Citation

  • Opeyemi Idowu ALUKO, 2015. "Political Economy of Crony Capitalism: The Prospect and the Bane," Journal of Economics Library, KSP Journals, vol. 2(3), pages 192-197, September.
    • Handle: RePEc:ksp:journ5:v:2:y:2015:i:3:p:192-197
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    References listed on IDEAS

    as
    1. Justin Yifu Lin, 2015. "The Washington Consensus revisited: a new structural economics perspective," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 18(2), pages 96-113, June.
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    5. Justin Yifu Lin, 2015. "The Washington Consensus revisited: a new structural economics perspective," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 18(2), pages 96-113, April.
    6. Erik Berglof, 2015. "New structural economics meets European transition," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 18(2), pages 114-130, June.
    7. Erkki Karo & Rainer Kattel, 2015. "Economic development and evolving state capacities in Central and Eastern Europe: can “smart specialization” make a difference?," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 18(2), pages 172-187, April.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Capitalism; Crony capitalism; Poverty; Masses and public policy.;
    All these keywords.

    JEL classification:

    • P00 - Political Economy and Comparative Economic Systems - - General - - - General
    • P10 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - General
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • P40 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - General
    • P50 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - General

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