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 The Guardian • Jul. 7, 2019

This conservative think tank seeks “to investigate and expose crony capitalism, misuse of taxpayer monies, and other governmental corruption or malfeasance.”

From Salon • Apr. 24, 2017

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

For him, the gesture comported with the dignity of his office, but to his detractors, it recalled the kind of crony capitalism that Liberland had been invented to circumvent.

From New York Times • Aug. 11, 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