Crony capitalism is an economic system where business success hinges on close ties with govt officials rather than market forces. It’s marked by favoritism, regulatory capture, corruption, suppressed competition, inequality & misallocation of resources. It's distinct from free-market capitalism, leading often to inefficiencies, wealth concentration, and social unrest. Tackling it demands transparency, robust legal frameworks against corruption, and independent regulation.🏦💼👨‍💼🔄🔗#CronyCapitalism #Economics #Government #Business #Transparency #Corruption

https://mises.org/library/progressive-era-and-rise-crony-capitalism