Thursday, August 02, 2018

Crony Capitalism and Political Entrepreneurship

This interweaving of politics and private enterprise, sometimes envisioned as crony capitalism, and at other times as political entrepreneurship was pervasive in the House of Assembly. Francis Hincks, who was co-premier of the province from 1851 to 1854, was hung out to dry and lost control of the Assembly on a railway-associated scandal. He was notoriously discovered to have profited through insider knowledge from railway-linked Toronto municipal bonds to the tune of several years' professional income.

--J.J. Ben Forster, "First Spikes: Railways in Macdonald's Early Political Career," in Macdonald at 200: New Reflections and Legacies, ed. Patrice Dutil and Roger Hall (Toronto: Dundurn, 2014), 181-182.


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