Research ToolsEconomics A–Z
Featured entry: Crony capitalism
An approach to business based on looking after yourself by looking out for your own. At least until the crisis of the late 1990s, some Asian companies, and even governments, were notable for awarding contracts only to family and friends. This was often a form of CORRUPTION, resulting in economic inefficiency.
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The Economics A-Z is adapted from "Essential Economics", by Matthew Bishop (interviewed here), published by Profile Books.
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