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....During the general election Jeremy Corbyn, the Labour leader, won support by focusing heavily on pay disparities, suggesting a possible pay cap that would limit the highest paid member of staff to 20 times the average worker for companies with public sector contracts. On Monday MonRebecca Long-Bailey, the shadow business secretary, described the government’s proposals as “just more crony capitalism” and questioned why the register of companies that face shareholder revolts would be maintained by the Investment Association, a City trade body. ... [Read full article on Guardian ]
Monday 28th of August 2017 11:01:46 PM
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Latest Finance News related to Crony Capitalism

Companies must reveal pay disparity between boss and workers image
Source : Guardian [Read Article] Monday 28th of August 2017 11:01:46 PM
....During the general election Jeremy Corbyn, the Labour leader, won support by focusing heavily on pay disparities, suggesting a possible pay cap that would limit the highest paid member of staff to 20 times the average worker for companies with public sector contracts. On Monday MonRebecca Long-Bailey, the shadow business secretary, described the government’s proposals as “just more crony capitalism” and questioned why the register of companies that face shareholder revolts would be maintained by the Investment Association, a City trade body. ...
How Britain fell out of love with the free market image
Source : Guardian [Read Article] Friday 4th of August 2017 05:00:34 AM
....”. Littlewood lists other dysfunctions: “Wage stagnation, poor GDP growth, crony capitalism in the contracting-out of public services, endless gaming of the system by corporations, a general ennui about the prevailing economic system … ” Finally, he cites the event that did more than any other to discredit free-market capitalism in Britain: “the 2008 crash”, the banking crisis caused by the deregulation and hubris of the financial markets. ...
Whole Foods represents the failures of 'conscious capitalism' | Nicole Aschoff image
.... It’s to take a hard look at models that claim to solve the ills of capitalism without challenging the in-built drives of our for-profit system. Mackey has loudly declared unions akin to herpes and state regulation little more than “crony capitalism” – that all we need to solve things like the climate crisis are better, smarter, “conscious” capitalists. ...
Tata's dented image image
Source : BBC [Read Article] Monday 31st of October 2016 12:59:09 AM
....The respect that people feel for the group, to a large extent, comes from the stature of the men who have led the company over the years: from its visionary founder, Jamsetji Tata, to the pioneering JRD Tata who was chairman of the group for more than 50 years and, in recent decades, Ratan Tata, who was behind the firm's global expansion. Ratan Tata managed to keep his reputation as one of India's most revered business leaders intact, through a time when corruption and crony capitalism had become the hallmarks of corporate India. ...
Changing of the guard image
Source : BBC [Read Article] Monday 22nd of August 2016 10:47:28 AM
....Mr Rajan, whose good looks and eloquence helped generate a "rock star" reputation, is bowing out under a cloud following very public clashes with the government. Sharply critical at times about India's crony capitalism, he reportedly ruffled too many feathers and ended up feeling undermined at the RBI. ...

The Brazillionaire families at the heart of the Olympic construction bribes scandal
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.... That included Temer’s party, the PMDB, which later turned against Rousseff, leading the efforts in Congress to remove her from office. Why did Rousseff, the onetime Marxist, team up with Camargo Corrêa, Brazil’s prime exemplar of crony capitalism? Elections are expensive, for one thing. ...
The economy isn’t working. This could be Labour’s chance | Stewart Wood image
Source : Guardian [Read Article] Thursday 28th of January 2016 12:35:35 PM
....Meanwhile, Cameron’s occasional nemesis, David Davis, has just finished a book on the “new capitalism”, which will no doubt channel Teddy Roosevelt’s hostility to oligopolies on behalf of Britain’s consumers. And one of the Tories’ rising stars, Jesse Norman, who coined the term “crony capitalism”, has set out a reform plan to return to “properly governed markets” in the wake of the 2008 crash. ...
Is having individual billionaires good or bad for a country's economy? image
Source : Independent [Read Article] Saturday 22nd of August 2015 05:18:30 PM
....For example, the study mentions Russian billionaire Mikhail Fridman, who financed Boris Yeltsin’s re-election campaign in 1996 and was able to buy state-owned oil and metals companies at very cheap prices, the Wall Street Journal reported in 2001. Over the next 20 years, crony capitalism made Russian society more unequal and reduced its economic potential, Bagchi says. ...
Malaysia Airlines to cut 6,000 jobs in bid for survival image
Source : Guardian [Read Article] Monday 1st of June 2015 05:57:29 AM
....The announcement contained few details, but Mueller was scheduled to brief reporters at 3pm (0700 GMT). Analysts have long blamed the airline’s failure to compete on poor management, unwise business decisions, government meddling, and unfavourable service and supplier contracts stemming from Malaysia’s crony capitalism. ...
Real Republicans on the end of Cantor: 'the Pope dies, they get another Pope' image
....I self-identify as Tea Party Republican. [Cantor's defeat] is a clear warning to House Republicans that they should not be favoring big business and crony capitalism over working Americans. ...
Viewpoints: What should capitalism do? image
Source : BBC [Read Article] Monday 26th of May 2014 11:06:57 PM
....Sometimes they do deals with governments that provide taxpayer funds to cushion losses derived from incompetence or recklessness. These forms of crony capitalism detract from capitalism's real benefits and achievements. ...
Has the West fallen prey to crony capitalism? image
Source : Telegraph [Read Article] Friday 18th of April 2014 05:00:21 AM
.... No doubt there are pockets of such behaviour. Yet to think of the whole system as institutionalised crony capitalism is a gross exaggeration. ...

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