Crony Capitalism, Corruption and the Economy in the State of New Mexico outlines the rise of crony capitalism in the state and puts forth a three-step plan that eliminates corruption and energizes economic growth.
The report was authored by a team of political scientists at the University of New Mexico and led by Professor Michael Rocca. Identified in the paper are three key types of crony capitalism that New Mexico’s government amplifies: regulatory favoritism, pay to play/political coercion, and interest group politics. Additionally, included are case studies that spotlight recent tax subsidy programs, how industries have organized to sidestep laws, and pay-to-play scandals.
The study concludes with numerous recommendations that, if enacted, would minimize crony capitalism’s reach and lead to a more vibrant state economy and democracy. Among the proposals are the following: