Definition of crony capitalism
: an economic system in which individuals and businesses with political connections and influence are favored (as through tax breaks, grants, and other forms of government assistance) in ways seen as suppressing open competition in a free market If there's one thing that populists on the left and right can agree upon, it is disdain for crony capitalism.— Neil Irwin … the go-go growth was illusory, built on a corrupt crony capitalism that might have been exposed earlier by a robust and aggressive press. — Editor & Publisher As a condition for the loan, demand that they reform their economies, eliminating the worst excesses of crony capitalism.— Paul Krugman
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