Description: We talk with Kishore Jayabalan, who leads the Rome office of the Acton Institute. We get his take on Pope Francis from Rome and the 2016 US election from afar.
Kishore Jayabalan is the Director of the Instituto Acton in Rome and organizes the institute's educational and outreach efforts in Europe. He has worked as an international economist for the Bureau of Labor Statistics, was appointed to the Permanent Observer Mission of the Holy See to the United Nations and worked for the Pontifical Council for Justice and Peace.
Description: Popular comparisons of political economy often treat the primary options as either free-market capitalism or socialism, but in the 21st Century both of these options are being displaced by a third way called cronyism. Unlike a Free Market, cronyism involves the widespread collusion between government regulators and large private corporations. Using the 2008 financial crisis and its aftermath as a current example, Jay Richards is here to explain the essential elements of cronyism and how to distinguish it from both free enterprise and socialism.
Jay Richards is the Executive Editor of the Stream. He is an assistant research professor in the School of Business and Economics at the Catholic University of America and a Senior Fellow at the Discovery Institute. He is the author of many books including "Money, Greed and God" and "The Privileged Planet."