Crony capitalism is a term, yes. It implies the use of political power to give your friends businesses preferences, be that reduction of taxes, state social programmes where your business gets the contract etc.
The term implies that market conditions are abnormally skewed away from competition, and being in power is what matters. Since market is a key component of capitalism, it points on a critical flaw of already existing system (some states have more of this than others), and is only used in a negative connotation.
Crony capitalism is a term, yes. It implies the use of political power to give your friends businesses preferences, be that reduction of taxes, state social programmes where your business gets the contract etc.
The term implies that market conditions are abnormally skewed away from competition, and being in power is what matters. Since market is a key component of capitalism, it points on a critical flaw of already existing system (some states have more of this than others), and is only used in a negative connotation.