Symbioses imperative and convenient: The Evolution of Crony Capitalism in Puebla, Mexico, 1920-1940

Several historians have used 'crony capitalism' to label the cozy and inefficient relationships between business and political elites prevailing in Mexico since the 19th century. But it is a nebulous term, stigmatizing various behaviors not all of which are harmful to state formation or economic growth. I seek to solve this problem of conceptual vagueness by differentiating between forms of state-capital interdependence. The first, necessary to both parties at times of uncertainty, I term a 'symbiotic imperative,' which operates between institutions and purports to serve the greater good. The second, involving exchanges of favors that are merely advantageous, I term 'symbiotic convenience,' which tends to operate at a more interpersonal level. As a case study, I consider relations between governors and the leading industrialist William Jenkins in Puebla after the Revolution.