Home
/
RELIGION & LIBERTY ONLINE
/
Where Billionaire Crony Capitalists Live
Where Billionaire Crony Capitalists Live
Jun 21, 2025 6:04 AM

It’s never easy ing a billionaire, but the path to achieving a 10-figure level of wealth is smoother when you have the government as a business partner.

Crony capitalism is a general term for the range of activities in which particular individuals or businesses in a market economy receive government-granted privileges over their customers petitors. Certain industries (like casinos and real estate) and some nations (Russia, the Philippines) are more prone to cronyism than others. So if you want to e get ultra-rich it helps to be an business and country (e.g., an pany in Mexico) where the government will you gain an advantage in the market.

The Economist has put together an interesting interactive infographic showing where crony capitalist billionaires live around the world. As they explain:

Using data from a list of the world’s billionaires and their worth published by Forbes we label each individual as crony or not based on the source of their wealth. Industries that have a lot of interaction with the state are vulnerable to crony capitalism (a full list of industries is provided in the table below). These activities are often legal but always unfair (Donald Trump, a casino and property tycoon, earns the 104th spot in our individual crony ranking). We aggregate the billionaires by their home country and express the total wealth as percentage of GDP. The results are presented above for 22 economies: the five largest rich ones, the ten biggest for which reliable data are available and a selection of other countries where cronyism is a problem.

The United States ranks rather low on the list, but mostly because we have both a large economy and a lot of billionaires (whose wealth as a percentage of es from non-crony sectors. In some countries, like Malaysia, the only billionaires are the ones that in crony-related industries.

Overall, though, crony-based wealth is on the rise: the worth of billionaires in crony industries soared by 385 percent between 2004 and 2014, to $2 trillion.

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
RELIGION & LIBERTY ONLINE
Humor and Prison Rape Culture
Yesterday I noted some items related to the question of punishment and restorative justice in the American criminal justice system. And in the past we’ve looked here at the PowerBlog of the issues surrounding political and social activism on prison rape. Now today Joe Carter, web editor at First Things, considers the Prison Rape Elimination Act and the broader cultural attitudes toward prison rape: While such laws are a useful beginning, what is needed more than any legislation is a...
Deeper Truths Magnify Reagan Centennial
mentary this week is about the deeper truths of Ronald Reagan’s witness, words, and deeds. Reagan has been in the news a lot, and will continue to be as we approach his centennial birthday. A great place to visit for all things concerning the Reagan centennial is the Reagan Presidential Foundation & Library Centennial homepage. President Obama even weighed in on Reagan, heaping praise on the popular president in USA Today. It’s essential to look at what makes his words...
Rev. Sirico: Civility, not just after tragedy
The Detroit News today published a new column by Rev. Robert A. Sirico, president and co-founder of the Acton Institute: Civility, not just after tragedy The Rev. Robert Sirico The tragic shootings in Tucson that left U.S. Rep. Gabrielle Giffords gravely wounded and a score of others dead or wounded have sparked a national discussion about how we conduct our public discourse. This is something we should all e, in an age of instantaneous media and its often vitriolic political...
Acton Lecture Series 2010 Recap: Dr. John Pinheiro
On Thursday, Acton kicks off the 2011 Acton Lecture Series with an address by Acton President Rev. Robert A. Sirico entitled “Christian Poverty in an Age of Prosperity.” (If you haven’t done so already, you can register to attend the lecture at this link.) To set the stage for the 2011 series, I’ll be posting video of last year’s lecture series on the Powerblog all week long. In January of last year, we ed Dr. John Pinheiro to the podium...
The Amnesiac Civility of Jim Wallis
Peter Wehner on Commentary Magazine’s Contentions blog looks at the recent joint statement on civility from Jim Wallis and Chuck Colson: … what is worth noting, I think, is that Wallis (as opposed to Colson) has repeatedly violated mitment to civility. For example, in 2007, Wallis said: “I believe that Dick Cheney is a liar; that Donald Rumsfeld is also a liar; and that George W. Bush was, and is, clueless about how to be the president of the United...
Christianity and the Politics of Prison and Redemption
In a fine post over at the History News Network (HT: Religion in America), Jennifer Graber, assistant professor of religious studies at The College of Wooster and author of the ing book, The Furnace of Affliction: Prisons and Religion in Antebellum America, reflects on what the Michael Vick saga (to date) shows us about American attitudes towards crime, punishment, and redemption. Graber briefly traces the development of public policy and social attitudes towards punishment for violent and heinous crimes. She...
News: Acton Institute Among Top Global Think Tanks
GRAND RAPIDS, Mich. (Feb. 1, 2011) — A new survey of 5,500 organizations by the Think Tanks and Civil Societies Program at the University of Pennsylvania ranked the Acton Institute among the best global social policy organizations and in the top 50 think tanks overall in the United States. The 2010 Global Go-To Think Tank Rankings, directed by James G. McGann of the International Relations department at Penn, put Acton at No. 12 on the Top 25 Social Policy Think...
Acton Lecture Series 2010 Recap: Miller & Carrasco
Continuing our recap of last year’s Acton Lecture Series in anticipation of Thursday’s opening lecture of the 2011 ALS (which you can register for right here), we’re pleased to present the video from February and March of 2010. On February 18, 2010, Acton’s Director of Media Michael Miller Delivered a lecture entitled “Does Capitalism Destroy Culture?” His lecture discussed the positive and negative impact of capitalism in society today. Miller pointed out that it’s not just Christians that are worried...
Acton on Tap: Faith and Public Life in Reagan’s America
Ronald Reagan is in the news quite a bit these days. President Barack Obama is even trying to model himself after the popular president, as this piece in Time points out. Reagan’s centennial birthday is February 6. The Reagan Presidential Foundation & Library Centennial homepage is the essential site for information on the celebration. On February 17, those in the Grand Rapids area should plan on attending Acton on Tap at Derby Station in East Grand Rapids for a discussion...
What We Have Here is a Failure of Political Leadership
In yesterday’s edition of the Grand Rapids Press, editorial page editor Ed Golder reflects on the implications of the historically-high levels of government spending, the deficit, and debt. Most impressively, Golder notes where the government is actually spending money, and it is largely not in the areas of discretionary spending that so many politicians like to talk about. Golder writes, Neither party is forthrightly honest about what needs to be done. Making the necessary cuts touches on very large and...
Related Classification
Copyright 2023-2025 - www.mreligion.com All Rights Reserved