From Rags to Riches to Rags Again: Deconstructing the Narratives of Crony Capitalism and Neoliberal Ideology Through the Example of Algeria

Idriss Hadj Nacer ()
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Idriss Hadj Nacer: London School of Economics and Sciences-Po Paris

No 1632, Working Papers from Economic Research Forum

Abstract: The analysis put forward in this paper strives to unveil the ideological and power balance dynamics of crony capitalism. It underlines the existence of two classes within this system: political sponsors and crony capitalists. It tries to demonstrate how the tension between these two groups puts the whole system into motion and provides it with vitality and dynamism. Far from being static, friction between these two classes is marked by various phases that form a coherent sequence that can be analyzed through the ideological narrative that is articulated during each phase of this sequence. It also aims to demonstrate that, in the case of Algeria, the power balance is in favor of political sponsors, despite attempts from crony capitalists to challenge this status quo. This research also tries to expand the learnings from the 5 case studies taken to a wider analysis of the ties between crony capitalism and neoliberal ideology, raising the following questions: are the rise of the two always correlated? If they are, can they even be separated or are they simply two sides of the same coin? What could be the future of crony capitalism’s ideological discourse?

Pages: 53
Date: 2023-04-20, Revised 2023-04-20
New Economics Papers: this item is included in nep-ara and nep-hme
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Published by The Economic Research Forum (ERF)

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