Abstract
The global money culture and the fallout from the global financial crisis help to explain the growth of several disturbing modern phenomena, including crony capitalism. Money is desired increasingly for its political rather than its purchasing power. This trend has been aggravated by the sheer amount of money flooding into the system, courtesy of the central banks, and fears among the wealthy elite of a political backlash. The combination of these factors has delivered a killer punch to classical capitalism.
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Notes
- 1.
Taber, a former business editor of Time magazine, tells the story in the Wharton School website: ‘The Night I Invented Crony Capitalism’.
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Pringle, R. (2019). Crony and Criminal Capitalism Since 2010. In: The Power of Money. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-25894-8_16
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DOI: https://doi.org/10.1007/978-3-030-25894-8_16
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