Rating of Crony Capitalism unveiled

This year, Russia took first place in the rating of “crony capitalism” prepared by The Economist.

This rating shows what percentage of the country’s GDP is accounted for by the fortunes of businessmen close to the government, who receive economic rent — profit from industries traditionally associated with the state, such as the fuel and energy complex, natural resources, construction and real estate, banks, etc. To date, the publication has counted 311 such billionaires.

In general, the share of “crony capitalism” in the world has tripled over the past 25 years and is 3% of the world’s GDP.

40% of such capital, logically, comes from autocratic countries such as Russia, China, or India.

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