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Crony Capitalism refers to a Capitalist Economy

Crony Capitalism refers to a Capitalist Economy in which the commercial success of a specific merchant, entrepreneur or certain business class does not depend on their own efforts or market forces, but on the political power and nexus between them. In this, the Government formulates its policies in such a way that it benefits only a particular class and in return this profit making class gives a part of its profit to the Government on a regular basis. ©Dr Bibhash C Jha #cronycapitalism
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Dr Bibhash C Jha

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