Meaning of the word "crony capitalism" in English
What does "crony capitalism" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
crony capitalism
US /ˈkroʊni ˈkæpɪtəlɪzəm/
UK /ˈkroʊni ˈkæpɪtəlɪzəm/
Noun
1.
an economic system in which success in business depends on close relationships between business people and government officials
Example:
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The country's economy was plagued by crony capitalism, leading to widespread corruption.
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Critics argue that the new policies will only exacerbate crony capitalism.
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