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Crony Capitalism in America: 2008-2012 Hardcover – September 6, 2013


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Crony Capitalism in America: 2008-2012 + Free Prices Now!: Fixing the Economy by Abolishing the Fed + Where Keynes Went Wrong: And Why World Governments Keep Creating Inflation, Bubbles, and Busts
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Editorial Reviews

Review

The tentacles of this crony capitalist system--the merger of corporate and state power (which is how Mussolini defined fascism)--are everywhere.... It is disturbing enough when such massive corruption exists in the world of politics and finance. But when it comes to control over what food we eat and the medicine we give our children, the cronyism is downright terrifying.

Crony Capitalism is a companion volume to Hunter Lewis' other outstanding work, published at the same time, Free Prices Now! --Jeremy Hammond, Barrons, 11/2/13

". . . What we have today is not the free market but 'crony capitalism,' an altogether different matter. Government and business are in a predatory partnership that extracts wealth to its own benefit. The fact that many suffer under the present system should occasion no surprise. Predatory 'cronyism' has existed throughout history and has been the main block to economic progress. . . . Lewis explains and documents [this] to the hilt. . . . Those inclined to dismiss Lewis's claim as exaggerated must confront the solid body of evidence he amasses." --David Gordon (Mises.org 9/24/13)  

"Hunter Lewis, co-founder of the investment firm Cambridge Associates, begins Crony Capitalism in America: 2008-2012 with cautionary tales of how crony capitalism has decimated economic growth in such countries as Argentina, Zimbabwe, and Russia. He is concerned that the United States is following the same path, with dire consequences in the offing."
--Murad J. Antia, CFA (CFA Institute)

"I recommend Free Prices Now! and Crony Capitalism in America 2008 - 2012 or anything by Hunter Lewis. Everything I have read of his is awesome."
--Host Kevin Price, The Price of Business 9/10/13

About the Author

Hunter Lewis, co-founder of global investment firm Cambridge Associates, has written eight books on economics and related subjects, including the widely acclaimed Are the Rich Necessary? ("Highly provocative and highly pleasurable--New York Times) and Where Keynes Went Wrong. He has contributed to many newspapers and periodicals including the New York Times, the Times of London, the Washington Post, and the Atlantic Monthly, as well as numerous websites such as Forbes.com. He has served on boards and committees of fifteen leading not-for-profit organizations, including environmental, teaching, research, and cultural organizations, as well as the World Bank.

ISBNs and titles of author's previous books: Where Keynes Went Wrong: And Why World Governments Keep Creating Inflation, Bubbles, and Busts, 978-1-60419-044-1; Are the Rich Necessary? Great Economic Arguments and How They Reflect Our Personal Values, 978-0-9753662-0-2;A Question of Values: Six Ways We Make the Personal Choices That Shape Our Lives, 978-0-9661908-3-0
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Product Details

  • Hardcover: 399 pages
  • Publisher: AC2 Books (September 6, 2013)
  • Language: English
  • ISBN-10: 0988726726
  • ISBN-13: 978-0988726727
  • Product Dimensions: 5.6 x 1.1 x 8.1 inches
  • Shipping Weight: 1.2 pounds (View shipping rates and policies)
  • Average Customer Review: 4.1 out of 5 stars  See all reviews (25 customer reviews)
  • Amazon Best Sellers Rank: #218,081 in Books (See Top 100 in Books)

More About the Author

Hunter Lewis was born in Dayton, Ohio, USA, in 1947 and graduated from the Groton School and Harvard University (AB 1969). After working at the Boston Company, then one of the largest investment managers, first as assistant to the president and then vice-president, in 1975 Lewis co-founded and served as co-chief executive and then chief executive of Cambridge Associates LLC, an investment advisor to research universities and colleges representing over three-quarters of U.S. higher education endowment assets, foundations, cultural organizations, international organizations and other non-profit institutions as well as families. Cambridge Associates is now a global firm with offices and clients around the world.

In addition to his work at Cambridge Associates, Lewis has served as treasurer and president of the American School of Classical Studies at Athens, a graduate research institute affiliated with 150 American colleges and universities, president of the Alliance for Natural Health-USA, chairman of the National Environmental Trust, chairman of Dumbarton Oaks (affiliate of Harvard University), founder and chairman of the Trearne Foundation, which provides educational assistance to foster children, chairman of the Worldwatch Institute, chairman of Shelburne Farms, treasurer of the World Wildlife Fund (World Wide Fund for Nature), trustee of World Wildlife Fund International, member of the Advisory Board of Environmental Health Sciences, trustee of the Morgan Library, trustee of the Rockefeller Brothers Fund, trustee of the Thomas Jefferson Foundation (Monticello), trustee of the Peabody School, trustee of the Groton School, trustee of the Core Knowledge Foundation, and member of the World Bank Pension Finance Committee.

Lewis has contributed to many newspapers and periodicals including the New York Times, the Times of London, the Washington Post, and the Atlantic Monthly, as well as numerous websites such as Forbes.com. He is also an author and editor of books on economics and moral philosophy. His works include: Where Keynes Went Wrong: And Why World Governments Keep Creating Inflation, Bubbles, and Busts (Axios Press; September 25, 2009), Are the Rich Necessary?: Great Economic Arguments and How They Reflect Our Personal Values (Axios Press; September 25, 2007; Rev Updated PB edition October 30, 2009), A Question of Values : Six Ways We Make the Personal Choices That Shape Our Lives (Harper Collins, 1990, Axios Press, Rev Updated edition May 25, 2000), The Beguiling Serpent (Axios Press; August 31, 2000), Alternative Values: For and Against Wealth, Power, Fame, Praise, Glory, and Physical Pleasure (Axios Press; July 25, 2005) and The Real World War (Coward, McCann & Geoghegan/Putnam; 1982).

Customer Reviews

If you dare read this book, it will wake you up to reality.
Francis R. Hand
I received this book, free of charge, from AC2 Books and Netgalley in exchange for an honest review.
Roger Leonhardt
Any reader should be left with nothing but a loathing disdain for the whole process!
John T. Ciappetta

Most Helpful Customer Reviews

21 of 22 people found the following review helpful By Roxy Kade on September 2, 2013
Format: Hardcover
WOW!! This is the word that slipped from my mouth over and over with each turn of the page. I've never had more eye-popping, jaw-dropping moments than I did while reading this book. It read more like a horror novel, and I was absolutely appalled by some of the content.

I'm not blind to greed and corruption that plagues Governments worldwide, but I have to say that I was shocked by some of the things I learned about one of, if not The, most powerful leaderships on the globe.

Once again, it's a case of the rich get richer, and the poor get poorer, but things become more sinister when people who line the pockets of those in power are afforded special privileges and are made to seem more important than the average Joe. It seems that just about any law can be overlooked for the right price, even if it is to the detriment of other human beings. This disregard for others is disturbing, and leads me to ask the question, what has this world come to?

As stated in my review of Free Prices Now!, another of Hunter Lewis' eye-openers, everyone needs to read this book. I'm not American, but I drew many parallels between what's happening in the US Government and what's happening in the South African Government. No matter which form it comes in, it's a deadly virus that spreads through those in power, along with their affiliates, inflating their sense of entitlement.

Lewis delivers a powerful message, and it's about time that people are informed and that they take note of how those we trust to run our countries, are really in it for their own advancement, and very rarely look at uplifting the masses.
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13 of 13 people found the following review helpful By T. M. Smith on August 27, 2013
Format: Hardcover
Crony Capitalism in America is an eye-opener on what is really going on in the economy and just who is profiting. I found it to be well documented and highly informative, but also very easy to read. The examples elucidating how co-opted our government is by various businesses were truly frightening.

Reading this book made me interested in Free Prices Now!, also by Hunter Lewis.
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13 of 14 people found the following review helpful By rpv TOP 500 REVIEWER on August 30, 2013
Format: Hardcover
I really liked the author's no nonsense approach to the issues whether it be medicine, big pharma, big spending, labor, unions, lawyers etc. What an open and chilling reports. I was shocked at the Government spending and how officials are looting the country. The hypocrisy of officials also sends a nervous chills. I applaud the author Hunter Lewis for the comprehensive treatment. I really liked the chapter 30 on how to fix it and the author leaves it at that. An excellent read!

I was provided this book in exchange of a fair and honest review.
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9 of 10 people found the following review helpful By Francis R. Hand on October 18, 2013
Format: Kindle Edition Verified Purchase
Most people are aware that Crony Capitalism exists in the USA. If your reaction is, "So what?", then you need to read this book. Even I, who has followed the growth of the government-industry partnership for more than forty years, had no idea of the magnitude of the corruption of the American political system.

Hunter Lewis not only describes the depth of corruption, he names the people in government and the many private sector operators who use government to eliminate competition, gain economic advantage, and maximize profits - all at the expense of the consumers and taxpayers. The depth and breadth of the corruption is stunning.

My only criticism is a minor one and doesn't reduce my rating of the book. Because of the time period on which he focuses, the examples are heavily weighted on the involvement of politicians in the Democratic Party. A few Republican politicians are discussed, it is true, but if the time period of focus were widened to include more than the Obama administration, I have no doubt there would have been equal treatment of the two political factions. If you are a partison politico, please realize that the corruption we experience today did not begin in the Obama years. Mr. Lewis acknowledges that, but the time period covered unbalances the report.

If you dare read this book, it will wake you up to reality. What we have today is not the political system the signers of the Declaration of Independence had in mind. Is it what you have in mind? If not, do something about it!!!
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4 of 4 people found the following review helpful By Herman on November 5, 2013
Format: Kindle Edition Verified Purchase
It is a good expose' on the Democrat side of the Republicrat Party but he fails to be fair and balanced in giving the Republican Branch direct credit for their own crony dealings. For example, he credits Robert Rubin with dumping Glass-Steagall. The process was started by Reagan's favorite economist, Wendy Gramm and spear headed by her powerful Republican senator husband Phil. The MANTRA pushed was that American banks were being left behind by the archaic law. Wendy deregulated the commodities markets and testified against Brooksley Born who brought attention to the unregulated derivatives markets in the 1990's. This is an example of the true Republicrat party in action. Further the author fails to discuss our inflated defense spending as an issue. The USA spends almost as much as the rest of the world COMBINED against supposed terrorists who operate with little money and mostly low tech tactics. He does not discuss the military-industrial-complex and the fact the government was in good shape in 2000 when Boy Bush took over and cut taxes while waging two useless wars to the tune of trillions and many no-bid contracts. He fails to see that most (there may be ONE exception) industrialized nations used tariffs to get there along with some government sponsored enterprises. He fails to discuss that College tuition began to rise exponentially beginning in the 1980's. In Ohio this was capped at 9% per year ( at 7% growth it would double every 10 years). He does not talk about peak oil and the consequences of failing to appreciate its consequences. To be fair he titles his book to include 2008-2012 but cannot help deviating a bit as I have pointed out.
Both branches of the Republicrat Party have used the "spoils system" to keep control from a local to national level for over a hundred years.
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