Booty Capitalism: The Politics of Banking in the Philippines

Rating:
Summary: Philippine economic inertia and rent-seeking activities
Review: A strong indictment of the perils of pervasive rent-seeking behavior by entrenched economic elites, "Booty Capitalism" is a highly readable exposition regarding the evident inertia of the Philippine economy. Full of salacious details about Marcos cronies, central bank governors and business tycoons, Hutchcroft's book is nonetheless a somber, deeply insightful historical work focusing on the Philippine banking system, and how that system remains instrumental in maintaining a decayed political and economic structure.