Elitism and Crony Capitalism Assignment Instructions

 In this last paper, you consider a number of additional ideologies.  They center on the phenomenon of crony capitalism, or alliance of Big Government and Big Business.  The readings start by asking about the definition of “rent-seeking.”  Has capitalism, even in its early 19^th century form, always involved this kind of influence peddling – or did a pristine classically liberal era exist at one time without it?  Crony capitalism is often viewed in relation to another less theorized and highly flexible ideology, understood variously as opposed to or supporting special treatment of the wealthy and powerful: populism, which involves the idea of “everyday people” sensing right policy when expert rationality leads us astray.  The experts who come up with regulations that contribute to crony capitalism, in turn, are often associated with yet another quasi-ideology, technocracy.  What idols are involved?  The compare and contrast part of this paper provides further opportunity for insight.

In the paper, discuss the following:

• Synthesize the key ideas of socialism, Marxism and Critical Theory
• Evaluate the impacts of Socialism, Marxism and critical theory on American politics and policy
• Evaluate the above within a model of Biblical principles of statesmanship and government

 Practical applications of this assignment include knowing how to provide sharper answers to questions that include: how did the dynamic of crony capitalism and elitism work in the 2008 Wall Street bailouts?  How can I knowledgeably and successfully advocate against special treatment, which occurs through regulatory favors, the making available of rents, or other means, of powerful economic actors?  Again: what is the posture of a Christian policy maker towards the practice of crony capitalism, and to what Biblical narratives and precepts can appeal be made in the quest for reform?

Instructions

Write 12-14 pages of content, double-spaced, thoroughly addressing all aspects of the question prompt.  Remember that as per posted guidelines, your paper must include citations from relevant readings, presentations, and at least 20 scholarly sources.  It is not unusual, in doctoral-level research, to have 3-4 citations per paragraph.  Remember also that writing a research paper, especially at the doctoral level, requires the student to weave in ideas from numerous sources and then in turn synthesize those ideas to create fresh insights and knowledge. Current APA citation format is required.

Learning Outcomes

Upon successful completion of this module, you will be able to:

• Discuss factors causing crony capitalism and rent-seeking.
• Examine the link between statist interventions in the economy and crony capitalism and rent-seeking.
• Evaluate current trends in American politics with respect to elitism, crony capitalism, and rent-seeking.
• Evaluate the above in light of Biblical principles of government and statesmanship.

Textbook Reading

• Franks: chs. 8-11
• Link: http://hayekcenter.org/?p=5134
• Link: https://www.mercatus.org/publications/government-spending/cost-rent-seeking-actual-and-potential-economic-growth

• Presentation: Elitism & Crony Capitalism (Pt. 2): to cite this transcript, please use this format:  Fischer, K. (2018). Week Seven Presentation:Presentation: Elitism & Crony Capitalism (Pt. 2)  (7:58)

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