Crony capitalism is essentially a condition in which... public officials are giving favours to people in the private sector in payment of political favours.
Sentiment: NEGATIVE
Crony capitalism is not capitalism - it is cronyism.
Crony capitalism is much easier than competing in an open market. But it erodes our overall standard of living and stifles entrepreneurs by rewarding the politically favored rather than those who provide what consumers want.
By killing transparency and competition, crony capitalism is harmful to free enterprise, opportunity, and economic growth. And by substituting special interests for the public interest, it is harmful to democratic expression.
Big-government economics breeds crony capitalism. It's corrupt, anything but neutral, and a barrier to broad participation in prosperity.
I believe that cronyism is nothing more than welfare for the rich and powerful, and should be abolished.
We do live in an environment of crony capitalism, and the main reason we do is that loopholes are for sale, and both parties have their hands out through those loopholes.
Crony capitalism is alive and well: the big are bigger, the wealthy are getting wealthier because, with a very large powerful complicated government, which is what we have and which Democrats want more of, only the big, the powerful, the wealthy and the well connected can survive.
Every economy exists, no matter what the level of democracy, has elements of crony capitalism. It's - given human nature and given the democratic structures, which we all, I assume, adhere to, that is an inevitable consequence.
The kind of capitalism I hate most is crony capitalism, the friends who decide. These are things which should be killed in Russia.
I call crony capitalism, where you take money from successful small businesses, spend it in Washington on favored industries, on favored individuals, picking winners and losers in the economy, that's not pro-growth economics. That's not entrepreneurial economics. That's not helping small businesses. That's cronyism, that's corporate welfare.
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