Capitalism Vs Crony Capitalism - 1808 Words

CRONY CAPITALISM – GENERAL ELECTRIC The majority of people doesn ’ t know the distinction of the capitalism and crony capitalism , and so the problem starts here . People who don ’ t know the distinction of these phenomenon are against to capitalism . Let’s first , start with defining the ‘‘ Crony Capitalism ’’ . ‘‘ Crony capitalism ’’ refers to capitalist society thats hinged on the close relationships between businessmen and the government . An economy that is nominally free - market , but allows for preferential regulation and other favorable government intervention based on personal relations . Instead of success being determined by a†¦show more content†¦Ã¢â‚¬â„¢Ã¢â‚¬â„¢ GENERAL ELECTRIC 2001 – 2017 In October 2017 , Jeffrey Immelt announced his retirement from General Electric after being a CEO and the chairman of the massive company that he has led since September 2001 . After Immelt ’s retirement various speculations have risen about General Electric’s activities during Bush and Obama Terms . I am investigating whether these speculations are true or they will just stay as speculations . Immelt was a major supporter of Obamanomics . He upheld the Obama organization s endeavor at monetary jolt , the section of Obamacare , and natural controls . He has for quite some time been one of corporate America s most vocal supporters of arrangements went for checking environmental change , especially through tops on carbon discharges . In 2011 , President Barack Obama doled out him to head another board on work creation . Amid the Bush and Obama organizations , GE turned into the organization known as the encapsulation of Crony Capitalism . â€Å" Immelt is a classic example of a rent-seeking CEO who may know what is good for his own company but not what produces economic growth and private sector job creation , † Fred Barnes wrote in 2011 . Past the grasp of globalization , environmentalism , and enormous government , Immelt changed GEShow MoreRelatedThe Solution For Climate Change Problem : Green Economy1870 Words   |  8 Pagesyear. Environmentalists have blamed capitalism is the original reason causes the global warming due to the amount of carbon dioxide released by extracting and using oil to meet the energy demand of the economy. One of the noticeable environmentalist, Naomi Klein, has announced that our economic system and our planetary system now are at war and only one of them can be change, that is our economic system (21). Her solution for climate change is to shut down capitalism, which she believes conflicts withRead MoreWhy The MOIS Case Study1301 Words   |  6 Pagesmanaging the war, Rouhani had worked with the IRGC commanders who at the time were very close to Rafsanjani. To find the real reason why Rouhani relies so much on the MOIS we should look at reasons other than his work experience. 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