crony capitalism - definition in the Business English Dictionary - Cambridge Dictionaries Online

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English definition of “crony capitalism”

crony capitalism

noun [U]
 
 
ECONOMICS, GOVERNMENT, SOCIAL RESPONSIBILITY an economic system in which family members and friends of government officials and business leaders are given unfair advantages in the form of jobs, loans, etc.: government-owned firms engaged in crony capitalism
(Definition of crony capitalism from the Cambridge Business English Dictionary © Cambridge University Press)
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