Joseph E. Stiglitz considers the long-run political and economic costs of the US president's thuggish cronyism.
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Economics
Jun 24, 2026
Joseph E. Stiglitz
The current US administration's openly corrupt style of crony capitalism is the antithesis of the institutional foundation on which the US economy was built. The winners in the new oligarchic competition are not those who make the best products, but rather those who are best at flattering the mad king.
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