crony capitalism

[ kroh-nee kap-i-tl-iz-uhm ]

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.

Word History and Origins

Origin of crony capitalism¹

First recorded in 1980–85

Example Sentences

Democrats need to respond aggressively to the crony capitalism practiced by many Republicans, particularly regarding Wall Street.

From The Daily Beast

In 2012, he voted to reauthorize the Export-Import Bank, one of the purest excresences of crony capitalism imaginable.

From The Daily Beast

Adam Smith wrote “The Wealth of Nations” to denounce mercantilism, the crony capitalism of his day.

From The Daily Beast

After a sex scandal, a onetime fighter for the middle class learned to love crony capitalism.

From The Daily Beast

The particulars of this case, in fact, reek with the stench of crony capitalism.

From The Daily Beast

There, they spun off a malignant, pathological, form of crony capitalism.

From Project Gutenberg