Business Entrepreneurship

The politico-capitalist nexus: crony capitalism

 It was the summer of 1766 when Ivan Polzunov, a Russian mechanic’s apprentice, invented a steam engine which was completely independent of the use of water power culminating into one of the most remarkable designs which had the potential to accelerate the industrial revolution by leaps and bounds. The project was sent to Empress Catherine II. She awarded him 400 rubles but did not seem to appreciate the new technology, as she found the British

Read more