Definition
A form of capitalism in which success in business depends on corrupt close relationships with government officials, often implying favouritism.
In Context
- "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."
Also Said As
- cronynomics
See Also
- banana republic
- capitalism
- plutocracy
- socialism