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Ethnic Entrepreneurs, Crony Capitalism, and the Making of the Franco-Mexican Elite, Ethnic Entrepreneurs, Crony Capitalism, and the Making of the Franco-Mexican Elite, 0817320806, 0-8173-2080-6, 978-0-8173-2080-5, 9780817320805, , , Ethnic Entrepreneurs, Crony Capitalism, and the Making of the Franco-Mexican Elite, 0817393366, 0-8173-9336-6, 978-0-8173-9336-6, 9780817393366,

Ethnic Entrepreneurs, Crony Capitalism, and the Making of the Franco-Mexican Elite
José Galindo

Trade Cloth
2021. 240 pp.
11 figures / 5 maps / 17 tables
Price:  $54.95 s
E Book
2021. 240 pp.
11 B&W figures / 5 maps
Price:  $54.95 d

A groundbreaking historical narrative of corruption and economic success in Mexico

Ethnic Entrepreneurs, Crony Capitalism, and the Making of the Franco-Mexican Elite provides a new way to understand the scope and impact of crony capitalism on institutional development in Mexico. Beginning with the Porfiriato, the period between 1876 and 1911 named for the rule of President Porfirio Díaz, José Galindo identifies how certain behavioral patterns of the Mexican political and economic elite have repeated over the years, and analyzes aspects of the political economy that have persisted, shaping and at times curtailing Mexico’s economic development.
Strong links between entrepreneurs and politicians have allowed elite businessmen to receive privileged support, such as cheap credit, tax breaks, and tariff protection, from different governments and to run their companies as monopolies. In turn, successive governments have obtained support from businesses to implement public policies, and, on occasion, public officials have received monetary restitution. Galindo notes that Mexico’s early twentieth-century institutional framework was weak and unequal to the task of reining in these systematic abuses. The cost to society was high and resulted in a lack of fair market competition, unequal income distribution, and stunted social mobility.
The most important investors in the banking, commerce, and manufacturing sectors at the beginning of the twentieth century in Mexico were of French origin, and Galindo explains the formation of the Franco-Mexican elite. This Franco-Mexican narrative unfolds largely through the story of one of the richest families in Mexico, the Jeans, and their cotton textile empire. This family has maintained power and wealth through the current day as Emilio Azcárraga Jean, a great-grandson of one of the members of the first generation of the Jean family to arrive in Mexico, owns Televisa, a major mass media company with one of the largest audiences for Spanish-language content in the world.
José Galindo is professor at the Instituto de Investigaciones Histórico-Sociales, Universidad Veracruzana. He is author of La CNDH: Una consecuencia de la política económica y social de México (1970–1990), editor of México contemporáneo: Aspectos económicos, políticos y sociales, and coeditor of Narrativas estatales de los sistemas estatales anticorrupción en México: Reflexiones desde lo local.
“This is a compelling case study of crony capitalism in Mexico, one that previously has not been studied at such length. Galindo makes a convincing argument that neither the neo-institutionalists nor those who focus on social networks fully capture the structural foundations for Mexican capitalism. Formal institutions were often much stronger than neo-institutionalists recognize, according to Galindo, though they were too weak to curb the crony capitalism and corruption endemic to Mexican modernization, as other scholars might argue. In this, Galindo stakes important new ground that seeks to understand social networks and institutions in relation to each other.”
—Susan M. Gauss, author of Made in Mexico: Regions, Nation, and the State in the Rise of Mexican Industrialism, 1920s–1940s
“This study helps explain one of the most intractable problems in Mexican history over the last century and a half, which is the marriage of business and politics at the highest levels.  The author explores the trajectory of one of the most powerful business families that has survived and prospered  in Mexico and hence helps to explain legacies  of oligopolies, political authoritarianism, and corruption in the long run.”
—Carlos Marichal Salinas, author of Bankruptcy of Empire: Mexican Silver and the Wars between Spain, Britain and France, 17601810
“An impressive and amply documented study of the migration of French capital to Mexico. Galindo focuses on the Jean family and its ties to other immigrant ‘Barcelonnettes’ to draw out the broader implications of crony capitalism for Mexico and elsewhere. Empirically informed and theoretically sophisticated, Galindo's work will be of interest to a wide range of students in history, development studies, and political science alike.”
—Richard J. Salvucci, author of Politics, Markets, and Mexico's "London Debt," 1823–1887
“José Galindo's detailed historical analysis of crony capitalism in Mexico broadens our understanding of the development and dynamic of this important pattern of corruption. Focusing on the Jean family from the French region of Barcelonnette, the study masterfully highlights not only businesses adapt to weak formal institutions, but the nature of the informal institutions that forge close and reciprocal relationships linking business to state officials. The book contributes to recent historical works on corruption in Mexico focusing on cultural factors by emphasizing the underlying institutional causal factors and tracing the political and economic consequences of crony capitalism. Ethnic Entrepreneurs, Crony Capitalism, and the Making of the Franco-Mexican Elite is a must read for those interested in the history of corruption in Mexico.”
—Stephen D. Morris, author of Gringolandia: Mexican Identity and Perceptions of the United States
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