crony$17732$ - meaning and definition. What is crony$17732$
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What (who) is crony$17732$ - definition

CORRUPT ECONOMIC AND POLITICAL POLICY
Crony socialism; Crony Capitalism; Venture socialism; Corporate mercantilism; Crony capitalist; Crony-corporatism
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Crony capitalism         

Crony capitalism, sometimes called cronyism, is an economic system in which businesses thrive not as a result of free enterprise, but rather as a return on money amassed through collusion between a business class and the political class. This is often achieved by the manipulation of relationships with state power by business interests rather than unfettered competition in obtaining permits, government grants, tax breaks, or other forms of state intervention over resources where business interests exercise undue influence over the state's deployment of public goods, for example, mining concessions for primary commodities or contracts for public works. Money is then made not merely by making a profit in the market, but through profiteering by rent seeking using this monopoly or oligopoly. Entrepreneurship and innovative practices which seek to reward risk are stifled since the value-added is little by crony businesses, as hardly anything of significant value is created by them, with transactions taking the form of trading. Crony capitalism spills over into the government, the politics, and the media, when this nexus distorts the economy and affects society to an extent it corrupts public-serving economic, political, and social ideals.

Crony-capitalism index         
Crony capitalism index
The crony-capitalism index is an index published by British newspaper The Economist that claims to calculate whether the livelihood of the people from certain country or city with a capitalist economy are "easily affected by crony capitalism". It is a measurement of crony capitalism designed based on the "work by Ruchir Sharma of Morgan Stanley Investment Management, Aditi Gandhi and Michael Walton of Indian think-tank Centre for Policy Research, and others" in 2014.
Crony         
PRACTICE OF PARTIALITY
Croneyism; Crony; Cronyist; Chumocracy; High command culture
·noun A Crone.
II. Crony ·noun An intimate companion; a familiar frend.

Wikipedia

Crony capitalism

Crony capitalism, sometimes called cronyism, is an economic system in which businesses thrive not as a result of free enterprise, but rather as a return on money amassed through collusion between a business class and the political class. This is often achieved by the manipulation of relationships with state power by business interests rather than unfettered competition in obtaining permits, government grants, tax breaks, or other forms of state intervention over resources where business interests exercise undue influence over the state's deployment of public goods, for example, mining concessions for primary commodities or contracts for public works. Money is then made not merely by making a profit in the market, but through profiteering by rent seeking using this monopoly or oligopoly. Entrepreneurship and innovative practices which seek to reward risk are stifled since the value-added is little by crony businesses, as hardly anything of significant value is created by them, with transactions taking the form of trading. Crony capitalism spills over into the government, the politics, and the media, when this nexus distorts the economy and affects society to an extent it corrupts public-serving economic, political, and social ideals.