crony capitalism
Noun
Meaning
crony capitalism (usually uncountable, plural crony capitalisms)
(politics, idiomatic) A form of capitalism in which success in business depends on corrupt close relationships with government officials, often implying favouritism.
Synonym: cronynomics
Hypernyms: capitalism, cronyism
Examples
Crony capitalism is essentially a condition in which... public officials are giving favours to people in the private sector in payment of political favours.
Every economy exists, no matter what the level of democracy, has elements of crony capitalism. It's - given human nature and given the democratic structures, which we all, I assume, adhere to, that is an inevitable consequence.
Crony capitalism is much easier than competing in an open market. But it erodes our overall standard of living and stifles entrepreneurs by rewarding the politically favored rather than those who provide what consumers want.
I am running to fix the economy, restore the constitutional system of checks and balances and to end this game of crony capitalism by the ruling class in Washington.
People feel they are not participating in the decision-making process. Decisions are exclusive to those at the very top. You have grown up with crony capitalism and it creates ever more resentment.
Big-government economics breeds crony capitalism. It's corrupt, anything but neutral, and a barrier to broad participation in prosperity.