Capitalism, Cronyism, and Management Scholarship: A Call for Clarity
- 1 February 2022
- journal article
- research article
- Published by Academy of Management in Academy of Management Perspectives
- Vol. 36 (1), 6-29
- https://doi.org/10.5465/amp.2019.0198
Abstract
Capitalism, characterized by by private ownership, coordination through markets, and decentralization, is blamed for a variety of economic, environmental, and social ills. These critiques often confuse capitalism with cronyism, a system of government favoritism toward particular firms. We show how this confusion harms management research, teaching, and practice.Keywords
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