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Crony capitalism, sometimes also called simply cronyism, is a pejorative term used in political discourse to describe a situation in which businesses profit from a close relationship with state power, either through an anti-competitive regulatory environment, direct government largesse, and/or corruption.
Feb 11, 2023 · Crony capitalism is a term used to describe a capitalist economic system in which individuals or businesses with close ties to political leaders and government officials use their political connections to gain an unfair advantage in the marketplace.
Oct 9, 2023 · What is crony capitalism? In crony capitalism, also known as cronyism, businesses prosper not as a consequence of free enterprise but rather as a result of money made through a collaboration between a business class and the political class.
The meaning of CRONY CAPITALISM is an economic system in which individuals and businesses with political connections and influence are favored (as through tax breaks, grants, and other forms of government assistance) in ways seen as suppressing open competition in a free market.
Feb 11, 2016 · Retail crony capitalism refers to individualized, generally non-systemic expressions of corruption such as awarding jobs or university admission to people based on connections rather than on merit.
Although the term crony capitalism is generally applied to non-Western economies, any economy is susceptible to three primary sources of cronyism: stan-dard special interest legislation, “bootlegger and Baptist” coalitions, and pathological altruism.
Oct 22, 2014 · This paper seeks to reduce the ambiguity surrounding our understanding of what crony capitalism is, what it is not, what costs crony capitalism leaves in its wake, and how we might contain it.
Mar 15, 2016 · The market economy’s outward form is preserved (hence, the noun “capitalism” in “crony capitalism”), but its basic protocols and institutions are slowly subverted by businesses seeking to secure preferential treatment from regulators, legislators, and governments.
May 11, 2023 · New Delhi: With the wealth of the crony-capitalist sector going up from 5 per cent to almost 8 per cent of its Gross Domestic Product (GDP) in the past decade, India ranks at 10th position in the British magazine The Economist’s 2023 ‘Crony-Capitalism Index’.
May 2, 2023 · Russia is, once again, the most crony-capitalist country in our index (see chart 2). Billionaire wealth from crony sectors amounts to 19% of gdp. The effects of the Ukrainian war are clear,...
