Crony capitalism
From Mises Wiki, the global repository of classical-liberal thought
Crony Capitalism is a term that refers to the relationship between the state and politically well-connected businesses in a mixed economy. The state’s natural tendency is to grow, spreading its influence into more and more sectors of society and its economy. As society becomes increasingly controlled, collusion between the political class and well-connected business leaders occurs with greater frequency and to a much higher degree.
Links
- "The Founding Father of Crony Capitalism" by Thomas J. DiLorenzo, October 2008
