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

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, 1760–1810

‘Galindo’s book is unique in its range of perspectives (cultural, political, economic) and historical scope, stretching from Mexican independence to today. Within this framework, he has nestled the history of a group of ‘ethnic entrepreneurs.’ While an interesting case study in itself, the story of the French immigrants may actually detract from his discussion of crony capitalism in Mexico more generally, since ‘ethnic entrepreneurship’ brings with it a variety of distinct variables of its own that Galindo does not adequately analyze. The marriage of these two topics—corruption and immigration policy—would be an absorbing contribution to a variety of fields, testing the thesis that racism and imperialism are themselves forms of corruption. Galindo chooses a different direction, contributing to Mexican economic history and the study of cronyism by tracing the roots of Mexico’s multicultural elite. In doing so, he provides a text useful for graduate seminars on Latin American development, society, and economy, as well as on the methodology of prosopography.’
—Hispanic American Historical Review

 

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
 

Galindo has made an important contribution to the business history of modern Mexico. Indeed, [his book] should be of interest to scholars comparatively studying twentieth-century capitalism.’
—Business History Review

‘Galindo has produced an important book that successfully marries the sociological insights of entrepreneurial studies with the economic and political history of Mexico. Although he does not engage explicitly with the ‘new history of capitalism,’ his scholarship contributes to this field, clearly illustrating one of its ‘varieties.’ There are helpful tables and charts throughout that detail business and political links, family activities, capital investments, and industry changes, and a global map of corruption. Readers will finish this book with a better understanding of modern Mexico and the development of capitalism.’
—The Americas