crony capitalism Definition in the Cambridge English Dictionary Cambridge dictionaries logo

Definition of “crony capitalism” - English Dictionary

"crony capitalism" in Business English

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crony capitalismnoun [U]

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ECONOMICS, GOVERNMENT, SOCIAL RESPONSIBILITY an ​economicsystem in which family ​members and friends of ​governmentofficials and ​businessleaders are given ​unfairadvantages in the ​form of ​jobs, ​loans, etc.: government-ownedfirmsengaged in crony ​capitalism
(Definition of crony capitalism from the Cambridge Business English Dictionary © Cambridge University Press)
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