Crony Capitalism is a way to smear Capitalism, a system of free trade which is based on a free market, not bribery. Politicians are called Crony Capitalists when they make crooked deals for favors but that’s just bribery, not free trade.
Free Trade is not trade that’s based on corruption. That’s Criminal. It’s Corrupt but it’s not Capitalism.
Most people have never analyzed Capitalism. They simply recite the stupid comment: “Crony Capitalism” whenever they hear of crooked behavior but Capitalism requires the rule of law and a free market, two principles that rule out bribery as legitimate trade.
So think before you condemn Capitalism. Think about what’s required for a market to exist then think how government regulation of that market must be very limited as per the American Constitution before it can be called a free market.
Think about the controlled markets of the failed Socialist cultures and the necessity of using bribes and connections to get goods. Then notice the difference of a market where people can trade goods for money without having to bribe the seller. That’s Capitalism. That’s not a market based on bribes.
Most times when a writer or speaker uses the phrase “Crony Capitalism” they are referring to a bribe of some kind of repulsive forced trade. That’s not a free market. It’s simply tow criminals going about their criminal behaviors so don’t call that Capitalism or Crony Capitalism. It’s simply two criminals committing crimes. A bribe requires an offer and it’s acceptance. That’s at least fraud but it’s not Capitalism.