In an interview for Guatemala’s Universidad Francisco Marroquin, Samuel Gregg, the Director of Research here at the Acton Institute, answered questions about crony capitalism, mentioning how it works and his worries about this problem.

Gregg explains crony capitalism by contrasting it with the free market and political market. He mentions how it works in the economy, what happens in the marketplace when it’s used, and why it’s a problem for both the people doing business and for entrepreneurs.