crony capitalism

American  

[kroh-nee kap-i-tl-iz-uhm] / ˈkroʊ ni ˈkæp ɪ tlˌɪz əm /

noun

1. an economic system in which success in business is obtained through relationships to people in political power rather than through competition.

   The fact that only a few well-connected developers can get projects approved does seem like the sort of favoritism inherent in crony capitalism.

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Etymology

Origin of crony capitalism

First recorded in 1980–85

Example Sentences

White, black and Latino; union and non-union; evangelical and secular; immigrant and native-born — all focused on ending big money in politics, stopping corporate welfare and crony capitalism, busting up monopolies and stopping voter suppression.

From Salon • Jul. 11, 2019

White, black and Latino; union and non-union; evangelical and secular; immigrant and native-born – all focused on ending big money in politics, stopping corporate welfare and crony capitalism, busting up monopolies and stopping voter suppression.

From The Guardian • Jul. 7, 2019

On the other hand, neither has the kind of crony capitalism that recently saw the hippy hoteliers of Otres, a quiet beach only a few hours’ drive up the coast, bulldozed off the map.

From Slate • Mar. 18, 2016

If that succeeds, the critics of crony capitalism can easily find new targets.

From New York Times • Jul. 5, 2015

Needham became closely attuned to the issues of crony capitalism while studying at Stanford University’s business school in 2008 and 2009.

From Washington Post