Subaru Emirates may have apologised for an offensive and sexist Facebook post, but at the root of the issue is cronyism, writes Alexandra Tohme
“In many countries, crony capitalism is considered an ethical breach of market regulations. Partiality towards friends regardless of their capacity to execute the task can result in “reduced business opportunities for the majority of the population, reduced competition in the market place, inflated consumer goods prices, and decreased economic performance”.
However, is it really a practice to be shunned? Consider the example of a bank loan for a business. It would make sense for the bank to lend to people whom it knows well and with whom the ma
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