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dc.contributor.authorHenderson, David R.
dc.date.accessioned2015-08-19T00:49:20Z
dc.date.available2015-08-19T00:49:20Z
dc.date.issued2012-07-26
dc.identifier.urihttp://hdl.handle.net/10945/46097
dc.description.abstractCronyism is the substitution of political influence for free markets. It comes about when government has a lot of power over private-sector decisions and when the government officials in power have great discretion over how to use it. Cronyism is not simply a zero-sum game that takes from some and gives to others; it is negative-sum. The losses to the losers substantially outweigh the gains to the winners. In short, cronyism destroys wealth. By shifting power to government, cronyism makes political power more important and increases the competition for that political power. The way to reduce or end cronyism is to reduce or end that government power.en_US
dc.rightsThis publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.en_US
dc.titleThe economics and history of cronyismen_US
dc.typeArticleen_US
dc.contributor.departmentBusiness & Public Policy (GSBPP)


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