Welcome to the Age of ‘Political Capitalism’
It’s a regime marked by cooperation between political and economic elites for their mutual benefit at the expense of the citizenry, one economist explains.
Welcome to our regime of political capitalism, where merit matters but political connections matter even more. In an unalloyed capitalist system, money flows to those who offer goods and services of value to consumers. In a political capitalism system, money flows to special-interest groups with friends in high places.
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