Crony Capitalism: Feature or Bug?


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“Crony capitalism” – the intertwining of big business and big government, clientelism and lobbyism – is not free market capitalism. But can this evil be overcome? Or is it inherent in the system of capitalism? A lecture by Kishore Jayabalan (Acton Institute) at the Austrian Academy.

This lecture was given at the AUSTRIAN ACADEMY 2019 “Market Economy and Entrepreneurship – their contribution to a free and humane society”. Participants of the almost three-day event were 27 students and young professionals who were selected on the basis of an application procedure and received a full scholarship from the Austrian Institute, the organizer of the event.

Here you can find the program and all lectures, which are available as video or in written form. And here is the main page of the Austrian Academy.

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