English

Noun

crony capitalism ‎(plural crony capitalisms)

1. (politics, idiomatic) an economic and political system dominated by privately owned, capitalist or financial undertakings that are dependent on the revolving door between themselves and publically held offices to secure the regulatory, taxwise, and prosecutorial leeway, such as financial subsidies, bailouts, settlements and special rubber stamped legislation, from those office holders to let the undertakings profitably weather their own misdeeds, mistakes, and outright crimes, as well as unlucky or unfriendly free-market conditions

Antonym

• free market

See also

• banana republic
• capitalism
• plutocracy
• socialism