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Oligarchic
Capitalism: a Necessary Evil? |
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Some economists have argued that this
ownership concentration is a rough and ready solution to the problem
of enforcing property rights in the absence of a strong rule of law
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The oligarchs were playing a role akin to
the US robber barons of the late nineteenth century
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The oligarchs pushed out communist-era
bureaucrats and managers
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Oligarchic capitalism was a transitional
phase: it would give way to liberal capitalism after the economic
system had matured
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Once the oligarchs had accumulated some
wealth, they would have a strong personal interest in seeing the
rule of law take hold, in order to protect their wealth from the
next wave of oligarchs
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"Deprivatising" the State |
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