An informal system by which money and power are retained by wealthy white men through incestuous business relationships. It is not necessarily purposeful or malicious, but the “Old Boy’s Network” can prevent women and minorities from being truly successful in the business world. It entails establishing business relationships on high-priced golf courses, at exclusive country clubs, in the executive sky-boxes at sporting events, through private fraternities or social clubs (such as the Free Masons), et cetera. These are arenas from which women and minorities are traditionally excluded and thus are not privy to the truly “serious” business transactions or conversations. A business person who does not travel in these elite circles of influence will miss out on many opportunities.
example of the Old Boy's Network at a sporting event:
"Yeah, I just saw Chuck at the country club the other day. You know Chuck. His son goes to school at Saint Andrews with your Mason brother Senator Northcutt's son. Anyway he told me he was interested in selling the R&D division at Imogen. I thought you might be interested..."
Name given to the informal links that criss-cross upper society, enabling people with power to do favours in exchange for favours with someone else in a different area of expertise. May also be called bribery and cheating buggery.
"I need a loan but my bank manager can't help me. Can you lend me a couple of thousand until the divorce is settled?" - typical plea given when consulting the Old Boy's Network.