misesmedia: Peter Klein on Cronyism, Capitalism and the Entrepreneurial Pathway
We often hear that capitalism is under fire: in contemporary politics, in journalism, in popular discourse, and even in some business schools and among some management scholars and their students. But the criticism, upon examination, is not about capitalism but cronyism. The two are entirely separate systems, and the corruption and corporate political activities of cronyism are not exhibited in capitalism, and will never appear if we can adhere to capitalism’s purest form, entrepreneurship.
Show notes: https://mises.org/library/peter-klein-cronyism-capitalism-and-entrepreneurial-pathway
"Capitalism, Cronyism, And Management Scholarship: A Call For Clarity" (forthcoming in Academy Of Management Perspectives) by Peter Klein, Michael Holmes, Nicolai Foss, Siri Terjesen, and Justin Pepe (PDF): https://Mises.org/E4B_119_Paper
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