Global Journal of Social Sciences Studies

Volume 1, Number 1 (2015) pp 1-9 doi | Research Articles

 

Political Economy of Crony Capitalism: The Prospect and the Bane

Aluko Opeyemi Idowu 1
1 Political Science Department, University of Ilorin, Nigeria

Abstract

All over the world capitalism had encroach the economy of nations turning the government against the people, employers against the worker 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, it has more havocs than good. The review of most government policies has shifted to accommodate the growing bane of cronies of capitalism. This work tends to show the tactics employed by bourgeoisies in colliding with the government so as to drain to the marrow the bones of the working class. What are the implications of these profiteering motives on the economy and the future of capitalism in the world where even the workers being exploited are also eyeing the enviable bourgeois class of the capitalist? These are some of the questions raised and answered in this work. The theoretical framework utilized in this work is the Relative deprivation theory incorporated with Marxian theory. Conclusions is drawn on the fact that until the proletariat continues to utilize their strength of number they will continued to be under the subjugation of the capitalists in conjunction with the nebulous public policies government. Recommendations are premised to the government public policies making and implication so as to ensure even developments of the people. Also the masses are called to use their break away strength to allow freedom of development and reorganization of the economy by participating in the public policy making.

Keywords

Crony capitalism Poverty Masses Public policy.

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