Political Economy of Crony Capitalism: The Prospect and the Bane

Abstract. The world over, capitalism had encroach the economy of nations turning governments against the people, employers against the workers all in the name of surplus values and profiteering motives. Although capitalism had made economies of nations to boom without much stress due to the fluid faces of its operations, nevertheless, it has more havocs than good. The review of most government policies has shifted to accommodate the growing bane of cronies of capitalism. This research shows the tactics employed by bourgeoisies in colliding with the government. What are the implications of these profiteering motives on the economy? The methodology adopted is the survey analysis of institutional data base. The theoretical framework of deprivation theory coupled with Marxian theory were used to x-tray the prospect and the bane of crony capitalism in the economy of polities.Keywords. Capitalism, Crony capitalism, Poverty, Masses and public policy.JEL. P00, P10, P16, P40, P50