Luigi Zingales, U of Chicago business professor and Italian expatriot, is an interesting guy. In fact I think he’s so interesting I invited him to be part of a discussion on crony capitalism I am moderating in New York later this year. He understands the danger crony capitalism poses to the American economy because he is very familiar with what it has done to the Italian one.
He has written a new book, Capitalism for the People, and a review by Stephen L. Carter at Bloomberg is attached.
“Zingales considers the free market both a moral and economic imperative. He recognizes the current tide of populist anger, reflected in different ways in both the Tea Party and Occupy movements — and that much of the anger is directed against capitalism in general and big business in particular. The real trouble, he contends, is the death of the Horatio Alger myth. People no longer believe that hard work and following the rules will get you ahead. The game, they believe, is fixed.”