Cronyism and government intervention are hardly unique features of any particular system, and many people simply view them as unfortunate bugs in the larger economy. But what happens when those features become symptomatic of a deeper problem, one reflecting not just flaws in a mixed economy but a totally distinct form of political economy itself? Randall Holcombe of Florida State University tackles this issue in the latest episode of the Hayek Program podcast with a book panel on his new book, Political Capitalism: How Economic and Political Power is Made and Maintained. Drawing on well-established theories in economics and social sciences, Holcombe delivers a compelling case explaining the presence of political capitalism and the effect it has on our society. He is joined on the panel by Joshua C. Hall of West Virginia University, Mercatus Center Senior Research Fellow Matt Mitchell, and the Hayek Program's Associate Director Chris Coyne, each of whom offer their thoughts on Holcombe's work. Join us as Holcombe and the panel take us for an enriching journey through the mysteries of this phenomenon.