An economy that is nominally free-market, but allows for preferential regulation and other favorable government intervention based on personal relationships. In such a system, the false appearance of "pure" capitalism is publicly maintained to preserve the exclusive influence of well-connected individuals.
Use 'crony capitalism' in a Sentence
I thought we were living in more of a crony capitalism and that the appearance of capitalism was a facade.
The outrageous crony capitalism accusation left a bad taste in everyone's mouth who was present during the televised national debate.
If you are working in a crony capitalism you need to try and take full advantage of it and get all that you can.
You Also Might Like...
