A political-economic term referring to a system where business success depends on close relationships between business people and government officials. Often used in critical contexts.
See also: 権貴
It is criticized that crony capitalism is rampant in that country.
Crony capitalism hinders healthy economic development.
Also translates to 'crony capitalism', but 権貴資本主義 emphasizes the power and influence of the elite (権貴), while 縁故資本主義 focuses on connections and nepotism (縁故).
Compound of 権貴 (けんき, 'powerful and influential person') and 資本主義 (しほんしゅぎ, 'capitalism'). The term is a calque from English 'crony capitalism'.