"We are not against capitalism, but we are against crony capitalism. We are depressed when spectrum worth Rs 1.5 lakh crore is purchased and sold for Rs 6,000 crore within one week. This is not called business, it is called dacoity,"
Arvind Kejriwal during his 49-day tenure as the Delhi Chief Minister ordered CAG audit of power discoms and initiated action against Mukesh Ambani, Reliance Industries and Oil Minister Veerappa Moily alleging complicity in fixing gas prices.
It is not the theories in books matter..Hard core leftists please watch what he is doing. He declared Ambani as his enemy. While doing Kejriwal place Ambani as the representative of the Indian lobbying system .
Back to text books
Crony capitalism is a term describing an economy in which success in business depends on close relationships between business people and government officials.
It may be exhibited by favoritism in the distribution of legal permits, government grants, special tax breaks, or other forms of state interventionism.
Crony capitalism is believed to arise when business cronyism and related self-serving behavior by businesses or business people spills over into politics and government, or when self-serving friendships and family ties between businessmen and the government influence the economy and society to the extent that it corrupts public-serving economic and political ideals.
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