by missy ly November 10, 2003
by El Morshed March 22, 2021
n. Crony capitalism is a colloquial term describing a "market economy" in which success in business depends on close relationships between business people and government officials. It may be exhibited by favoritism to connected businesses in the distribution of legal permits, government grants, special tax breaks, and so forth. This favoritism is rewarded by campaign contributions or outright kickbacks to politicians or their supporters. As such, it creates an oxymoron of sorts, in that success of a business in a free market (capitalism) does not depend on free-market forces. It is also a obvious source of corruption of both business and government.
In the United States, Fannie Mae and Freddie Mac are examples of Crony Capitalism. Government backing let Fannie and Freddie dominate mortgage underwriting. The politicians created the mortgage giants, which then returned some of the profits to the politicians - sometimes directly, as campaign funds; sometimes as "contributions" to favored constituents.
by Dan Weyandt October 5, 2011
noun
1. A person who claims to support socialism, while shilling for billionaire cronyarchs.
2. A dunce and/or hypocrite who attacks free-market capitalism, but defends crony capitalism.
1. A person who claims to support socialism, while shilling for billionaire cronyarchs.
2. A dunce and/or hypocrite who attacks free-market capitalism, but defends crony capitalism.
by DK_Able March 26, 2023
Todd: Dude i heard she gave him a bloody cronie!
Scott: Seriously man?!
Todd: Yea there was blood everywhere! It was hott...
Scott: Seriously man?!
Todd: Yea there was blood everywhere! It was hott...
by charjade April 24, 2010
by theywerecronies April 6, 2022
Crony Virus is the crescendo of corporate greed into its zenith by the excercise of emergency powers to amass more wealth to the ultra-wealthy. Mass media terrorism is used to make civillians fall into a state of submissive psychosis via intense devisiveness using a roos to maliciously and deliberatley turn friends and family against each other to drive people into isolation. The crony virus is the largest transfer of wealth in history. It is the death of science if questions are asked people are shunned. It is the death of debate the only option to survive is to obey. It is the insurrection of freedom. In short, it's a clutching from the financially wealthy and their last attempt to keep things the way they have been. The crony virus is a societal lobotomy.
This Crony Virus has been a scam from the beginning. Mind your own buisiness. Think for yourself and stop telling me what to do.
by iguanapopsicle May 8, 2023