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Crony Capitalism
Crony capitalism, sometimes called cronyism, is an economic system in which businesses thrive not as a result of free enterprise, but rather as a return on money amassed through collusion between a business class and the political class. This is often achieved by the manipulation of relationships with state power by business interests rather than unfettered competition in obtaining permits, government grants, tax breaks, or other forms of state intervention over resources where business interests exercise undue influence over the state's deployment of public goods, for example, mining concessions for primary commodities or contracts for public works. Money is then made not merely by making a profit in the market, but through profiteering by rent seeking using this monopoly or oligopoly. Entrepreneurship and innovative practices which seek to reward risk are stifled since the value-added is little by crony businesses, as hardly anything of significant value is created by them, wit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of scarce resources'. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two groups or parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. Ho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ricardo Manapat
Jose Ricardo L. Manapat (May 24, 1953 – December 24, 2008) was an activist, scholar, writer, researcher, and educator who was the Director of the Records Management and Archives Office of the Philippines (The National Archives) from 1996 to 1998 and 2002 to 2008. He is best known as the author of the book, "''Some Are Smarter Than Others: The History of Marcos' Crony Capitalism''", a work on anti-cronyism exposing the wealth of the Marcos dynasty, and as Editor-in-Chief of the "''Smart File''", Smart File Magazine Animal Farm Series. Early life and education Ricardo Manapat was born on May 24, 1953, in Manila, Philippines. His father, Apolinario B. Manapat (1925–2006), was a mechanical engineer, and his mother, Angelita de Leon (b. 1923), is a pharmacist and was a Professor of Chemistry at the University of Santo Tomas for 30 years. Manapat was the eldest of five children, and his siblings are Maria Teresa, Maria Lourdes, Maria Cristina, and Jose Alfredo. As a young child, M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adani Ports & SEZ Limited
Adani Ports and Special Economic Zone Limited (Adani Ports & SEZ; also APSEZ) formerly known as Mundra Port and Special Economic Zone Limited, is an Indian port operator. APSEZ represents a large network of ports with India's largest SEZ at Mundra. APSEZ is India's largest private port operator with presence across 12 locations. Locations The company commenced operations at Mundra Port and currently operates 10 ports in India comprising 45 berths and 14 terminals across 6 states. Through its subsidiary company Adani Logistics Ltd., APSEZ operates 3 Inland Container Depots, a storehouse of goods before they are custom cleared at ports. It is located in Kishangarh, Rajasthan; Patli, Haryana and Kila Raipur, Punjab. It holds Category 1 License for the Indian Railways that helps in pan-India cargo movement. The trains owned by Adani Logistics were used to dispatch 30,000 tonnes of food grains to feed over 60 lakh citizens across the states of Tamil Nadu, Karnataka, West Bengal an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coal-gate
The Coal allocation scam, dubbed in media as Coalgate, is a major political scandal concerning the Indian government's allocation of the nation's coal deposits to public sector enterprise (PSEs) and private companies. In a draft report issued in March 2012, the Comptroller and Auditor General of India (CAG) office accused the Government of India of allocating coal blocks in an inefficient manner during the period 2004–2009. Over the Summer of 2012, resulting in a Central Bureau of Investigation probe into whether the allocation of the coal blocks was in fact influenced by corruption. Hereafter Draft CAG Report. The essence of the CAG's argument is that the Government had the authority to allocate coal blocks by a process of competitive bidding, but chose not to. As a result, both public sector enterprises (PSEs) and private firms paid less than they might have otherwise. In its draft report in March the CAG estimated the "windfall gain" to the allocatees was . The CAG Final R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Liberalisation In India
The economic liberalisation in India refers to the opening of the country's economy to the world with the goal of making the economy more market and service-oriented, thus expanding the role of private and foreign investment. Indian economic liberalisation was part of a general pattern of economic liberalisation occurring across the world in the late 20th century. Although some attempts at liberalisation were made in 1966 and the early 1980s, a more thorough liberalisation was initiated in 1991. The reform was prompted by a balance of payments crisis that had led to a severe recession and also as per structural adjustment programs for taking loans from IMF and World Bank. Through reform, India overcame its worst economic crisis in the remarkably short period of two years. Specific changes included reducing import tariffs, deregulating markets, and reducing taxes, which led to an increase in foreign investment and high economic growth in the 1990s and 2000s. From 1992 to 2 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Oligarch
A business oligarch is generally a business magnate who controls sufficient resources to influence national politics. A business leader can be considered an oligarch if the following conditions are satisfied: # uses monopolistic tactics to dominate an industry; # possesses sufficient political power to promote their own interests; # controls multiple businesses, which intensively coordinate their activities. More generally, an oligarch () is a "member of an oligarchy; a person who is part of a small group holding power in a state". See also * Russian oligarchs * Ukrainian oligarchs * Oligarchy * Tai-pan * Chaebol A chaebol (, ; ) is a large industrial South Korean conglomerate run and controlled by an individual or family. A chaebol often consists of multiple diversified affiliates, controlled by a person or group whose power over the group often exc ... References Social groups Wealth concentration Oligarchy Post-Soviet states {{Business-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1997 Asian Financial Crisis
The Asian financial crisis was a period of financial crisis that gripped much of East Asia and Southeast Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion. However, the recovery in 1998–1999 was rapid and worries of a meltdown subsided. The crisis started in Thailand (known in Thailand as the '' Tom Yam Kung crisis''; th, วิกฤตต้มยำกุ้ง) on 2 July, with the financial collapse of the Thai baht after the Thai government was forced to float the baht due to lack of foreign currency to support its currency peg to the U.S. dollar. Capital flight ensued almost immediately, beginning an international chain reaction. At the time, Thailand had acquired a burden of foreign debt. As the crisis spread, most of Southeast Asia and later South Korea and Japan saw slumping currencies, devalued stock markets and other asset prices, and a precipitous rise in private debt. South Korea, Indonesia and Thailan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barriers To Entry
In theories of competition in economics, a barrier to entry, or an economic barrier to entry, is a fixed cost that must be incurred by a new entrant, regardless of production or sales activities, into a market that incumbents do not have or have not had to incur. Because barriers to entry protect incumbent firms and restrict competition in a market, they can contribute to distortionary prices and are therefore most important when discussing antitrust policy. Barriers to entry often cause or aid the existence of monopolies and oligopolies, or give companies market power. Barriers of entry also have an importance in industries. First of all it is important to identify that some exist naturally, such as brand loyalty. Governments can also create barriers to entry to meet consumer protection laws, protecting the public. In other cases it can also be due to inherent scarcity of public resources needed to enter a market. Definitions Various conflicting definitions of "barrier to en ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxicabs Of New York City
In New York City, taxicabs come in two varieties: yellow and green; they are widely recognizable symbols of the city. Taxis painted yellow (medallion taxis) are able to pick up passengers anywhere in the five boroughs. Those painted apple green (street hail livery vehicles, commonly known as "boro taxis"), which began to appear in August 2013, are allowed to pick up passengers in Upper Manhattan, the Bronx, Brooklyn, Queens (excluding LaGuardia Airport and John F. Kennedy International Airport), and Staten Island. Both types have the same fare structure. Taxicabs are operated by private companies and licensed by the New York City taxi and Limousine Commission (TLC). It also oversees over 40,000 other for-hire vehicles, including "black cars", commuter vans, and ambulettes. Taxicab vehicles, each of which must have a medallion to operate, are driven an average of 180 miles per shift. , there were 51,398 individuals licensed to drive medallion taxicabs. There were 13,605 t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Atlantic
''The Atlantic'' is an American magazine and multi-platform publisher. It features articles in the fields of politics, foreign affairs, business and the economy, culture and the arts, technology, and science. It was founded in 1857 in Boston, as ''The Atlantic Monthly'', a literary and cultural magazine that published leading writers' commentary on education, the abolition of slavery, and other major political issues of that time. Its founders included Francis H. Underwood and prominent writers Ralph Waldo Emerson, Oliver Wendell Holmes Sr., Henry Wadsworth Longfellow, Harriet Beecher Stowe, and John Greenleaf Whittier. James Russell Lowell was its first editor. In addition, ''The Atlantic Monthly Almanac'' was an annual almanac published for ''Atlantic Monthly'' readers during the 19th and 20th centuries. A change of name was not officially announced when the format first changed from a strict monthly (appearing 12 times a year) to a slightly lower frequency. It was a mo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Industry Trade Group
A trade association, also known as an industry trade group, business association, sector association or industry body, is an organization founded and funded by businesses that operate in a specific industry. An industry trade association participates in public relations activities such as advertising, education, publishing, lobbying, and political donations, but its focus is collaboration between companies. Associations may offer other services, such as producing conferences, holding networking or charitable events, or offering classes or educational materials. Many associations are non-profit organizations governed by bylaws and directed by officers who are also members. In countries with a social market economy, the role of trade associations is often taken by employers' organizations, which also take a role in social dialogue. Political influence One of the primary purposes of trade groups, particularly in the United States, is to attempt to influence public policy in a di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Korea President Park Business Leaders 20130508 01
Korea ( ko, 한국, or , ) is a peninsular region in East Asia. Since 1945, it has been divided at or near the 38th parallel, with North Korea (Democratic People's Republic of Korea) comprising its northern half and South Korea (Republic of Korea) comprising its southern half. Korea consists of the Korean Peninsula, Jeju Island, and several minor islands near the peninsula. The peninsula is bordered by China to the northwest and Russia to the northeast. It is separated from Japan to the east by the Korea Strait and the Sea of Japan (East Sea). During the first half of the 1st millennium, Korea was divided between three states, Goguryeo, Baekje, and Silla, together known as the Three Kingdoms of Korea. In the second half of the 1st millennium, Silla defeated and conquered Baekje and Goguryeo, leading to the "Unified Silla" period. Meanwhile, Balhae formed in the north, superseding former Goguryeo. Unified Silla eventually collapsed into three separate states due to civil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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