The golden rule of crony capitalism, in which profits are private but losses are social, has led to blatant injustice, as is generally recognised. The extra-market connections of crony capitalists facilitated transactional benefits while leading to entrenched market power, distorted competition, and depressed productivity growth, all contributing to growing inequalities. Yet, attempts to change the crony business model are facing their own dilemmas.

Crony capitalism is deeply ingrained and has gotten in the way of a truly dynamic and inclusive economy in Bangladesh.

The country’s future hinges on whether it can overcome autocratic governance, corruption, and crony capitalism.

When the Awami League (AL) announced its manifesto with the slogan ‘Charter for Change’ ahead of the general elections in 2008, it drew applause from various sections of society

The financial oligarchy under crony capitalism in the country is using banks as vehicles to fulfil their goals, said Fahmida Khatun, executive director of Centre for Policy Dialogue (CPD)

How much can declared policy intentions be taken at face value when simultaneous administrative and political steps signal different intentions?

Both countries have had a single-minded focus on GDP growth, with not enough attention to jobs, climate, the distribution effects and the destructive impact of crony capitalism.