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What’s the thin line between capitalism, cronyism, and corporatism?

What’s the thin line between capitalism, cronyism, and corporatism?

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July 10, 2023

Question: What’s the thin line between capitalism, cronyism, and corporatism?

Answer:  Capitalism is when there’s a principled separation between the economy and politics: between business and government. Cronyism is when there’s supposed to be a separation, but there is cheating. Connected politicians and business people are given and receive special favors that they’re not supposed to be doing. Corporatism is when the official policy is that the government is running the economy, working hand-in-hand with business professionals. So, the lines between them are thick, rather than thin. The thin-line cases, though, come up in the mixed economy cases when sometimes it’s very hard to tell whether the given tax break or subsidy or certain types of lobbying are legitimate or count as cheating or receiving special favors.

Stephen Hicks Ph.D.
About the author:
Stephen Hicks Ph.D.

Stephen R. C. Hicks is a Senior Scholar for The Atlas Society and Professor of Philosophy at Rockford University. He is also the Director of the Center for Ethics and Entrepreneurship at Rockford University.

Es autor de El arte de razonar: Lecturas para el análisis lógico (W. W. Norton & Co., 1998), Explaining Postmodernism: Escepticismo y socialismo de Rousseau a Foucault (Scholargy, 2004), Nietzsche y los nazis (La navaja de Ockham, 2010), La vida empresarial (CEEF, 2016), Liberalism Pro and Con (Connor Court, 2020), Arte: Modern, Postmodern, and Beyond (con Michael Newberry, 2021) y Eight Philosophies of Education (2022). Ha publicado en Business Ethics Quarterly, Review of Metaphysics y The Wall Street Journal. Sus escritos se han traducido a 20 idiomas.

Ha sido Profesor Visitante de Ética Empresarial en la Universidad de Georgetown en Washington, D.C., Profesor Visitante en el Social Philosophy & Policy Center de Bowling Green, Ohio, Profesor Visitante en la Universidad de Kasimir el Grande, Polonia, Profesor Visitante en el Harris Manchester College de la Universidad de Oxford, Inglaterra, y Profesor Visitante en la Universidad Jagiellonian, Polonia.

Es licenciado y máster por la Universidad de Guelph (Canadá). Se doctoró en Filosofía por la Universidad de Indiana, Bloomington (EE.UU.).

En 2010 ganó el Premio a la Excelencia Docente de su universidad.

Su serie de podcasts Open College está publicada por Possibly Correct Productions, Toronto. Sus conferencias y entrevistas en vídeo están en línea en CEE Video Channel, y su sitio web es StephenHicks.org.  


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