- 2017 Application is Closed - Acton University 2017: June 20 - 23

ALUM Crony Capitalism

Session 4 - Wednesday, June 21 - 3:45 PM to 5:05 PM

Introductory Course

Popular comparisons of political economy often treat the primary options as either free-market capitalism or socialism, but in the 21st century, both of these options are being displaced by a third way called cronyism. Unlike a free market, cronyism involves the widespread collusion between government regulators and large private corporations. Using the 2008 financial crisis and its aftermath as a current example, this course will explain the essential elements of cronyism and how to distinguish it from both free enterprise and socialism.

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Assistant Research Professor in the School of Business and Economics, The Catholic University of America

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