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

These include "the risk of crony capitalism, i.e., political connections and inefficient project allocations, related party transactions within their byzantine corporate organisation charts", taking on excess debt to fund their expansion and preventing competitors from entering the market.

From BBC

As the author of “Woke, Inc.: Inside Corporate America’s Social Justice Scam,” Mr. Ramaswamy has been a leading voice sounding the alarm on crony capitalism, Big Tech censorship and critical race theory.

From Washington Times

Terms such as corruption on Wall Street, big oil, police brutality and crony capitalism are tossed around without any thought to providing a deeper analysis.

From Seattle Times

In 2007, the writer and artist Magdy El Shafee published what many consider the first Egyptian one: “Metro,” a Cairo-set noir about a broke young computer programmer driven to rob a bank in a megalopolis plagued by crony capitalism and unfreedom.

From Washington Post

Anders Aslund, a leading expert on Russia who has written about crony capitalism under Putin, said Alekperov’s strategy to make Lukoil a global oil company, with projects in Mexico, Iraq, Eastern Europe and Africa, has given it a complicated corporate structure.

From Washington Post