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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 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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