crony capitalism

English

Pronunciation

  • (General American) IPA(key): /ˈkɹoʊni ˈkæpɪtəlɪzəm/
  • Audio (General Australian):(file)

Noun

crony capitalism (usually uncountable, plural crony capitalisms)

  1. (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
    • 2017, Naresh Khatri, Abhoy Ojha, Crony Capitalism in India: Establishing Robust Counteractive Institutional Frameworks‎[1], Springer, →ISBN, page 118:
      While many things can be blamed for the rampant crony capitalism in India (e.g., British imperialism, the License Raj, etc.), we are particularly interested in understanding what role cultural values play in fostering crony capitalism.

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