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

Cambridge Studies in Economics, Choice, and Society

by Randall G. Holcombe

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.

Genres: Economics, Political Science, Politics

304 pages, Paperback

First published January 1, 2018

Reviews

[Ietrio · Rating 1 out of 5]

Book after book, when the author puts some attribute in front of "Capitalism" expect the author to describe some form of Socialism. And, like clockwork, the author will explain why that is bad and why the reader needs to fight and die for the author's flavor of Socialism which will be perfect and bring the Heavens on Earth.

[LEGALIZE DRUGS · Rating 5 out of 5]

Public choice foundations for older liberal class theories & elite theory. A huge step forward in that area. Has a lot of explanatory power & shows specific incentives on both sides of the crony exchange. Holcombe's prose is hideous, but he does a lot of sign-posting and it's very readable even if you arent super knowledgeable abt public choice. Makes me want to dive deeper in this school of thought.

[Jackson Murray]

Read for ECON309 Economic Problems and Public Policies

[Matej Gregarek · Rating 3 out of 5]

Book that could be a 5* article.