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Consequently, there is an impetus upon the legislative branch of a government to ensure enforcement of the legal code capable of addressing and redressing private party manipulation of the economy by the involved businessmen and their government cronies. The economic and social costs of cronyism are paid by society.
It is also used to describe governmental decisions favoring cronies of governmental officials. [ 11 ] The term is used largely interchangeably with the related term corporate welfare , although the latter is by definition specific to corporations .
These "cronies" were awarded government commissions, projects, and funds, many of which were later investigated for corruption, misuse of funds, and disregard of the Constitution of the Philippines. Marcos' cronies were given strategic positions both in the government and in private sectors in order for the Marcoses to seize control of the ...
In 2021, the Sandiganbayan ordered the return of stolen funds worth ₱96 million and $5.4 million plus interest. According to the court decision, the funds were received from Marcos and his cronies from 1974 to 1986 and held by Royal Traders Holding Co. [72] [74] Courts abroad have also issued separate rulings on the stolen wealth of the Marcoses.
The crony-capitalism index is an index published by the British newspaper The Economist that claims to calculate whether the livelihood of the people from a certain country or city with a capitalist economy is "easily affected by crony capitalism".
If the Jets have another losing season, regardless of bad injury luck or any other factors, they'll almost surely sweep out the coach, general manager, quarterback, quarterback's cronies and many ...
Consequently, they also escape having to bear responsibility for the effects of their advice. The term derives from the Spanish word camarilla (diminutive of cámara), meaning 'little chamber' or private cabinet of the king. It was first used of the circle of cronies around Spanish King Ferdinand VII (reigned 1814–1833).
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