Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

As an AI language model, I'm unable to watch videos or browse the internet. However, I can provide an example of crony capitalism based on

As an AI language model, I'm unable to watch videos or browse the internet. However, I can provide an example of crony capitalism based on my existing knowledge. One notable example of crony capitalism is the relationship between certain large corporations and governments in securing lucrative contracts or favorable regulations. One such instance is the Boeing Company and its relationship with the U.S. government. Boeing has historically been a major defense contractor for the U.S. government, producing aircraft and weapons systems for the military. This example relates to the concept of crony capitalism as Boeing has been accused of using its political influence to secure contracts and subsidies, often at the expense of fair competition and taxpayer money. This behavior can lead to inefficiencies in the allocation of resources, as resources may be directed towards politically connected firms rather than the most efficient producers. Additionally, it can erode public trust in the government and the market system, as it appears that certain firms are receiving special treatment due to their connections rather than merit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Entrepreneurship

Authors: Andrew Zacharakis, William D Bygrave

5th Edition

1119563097, 9781119563099

More Books

Students also viewed these Economics questions