From Longman Business Dictionarycrony capitalismˈcrony ˌcapitalismECONOMICS a situation that exists in some countries in which contracts, jobs, loans etc are unfairly given to the family and friends of government leaders or powerful business peopleHe accused the government of practising crony capitalism, enriching a few personal friends of the prime minister at the expense of the population as a whole. → capitalism
