It makes no sense to say “crony capitalism.”
Cronyism takes many forms, but ultimately the effect is the government picking winners and losers, such as through subsidies to prop up a government-favored industry (e.g., for electric vehicles) or regulations that create barriers to entry for new competitors in an industry (such as state occupational licensing laws).
Those actions are taken at the expense of competition and innovation. Even worse, by their very nature, they don’t account for the overall public interest. Instead, they benefit a small, favored interest at the expense of everyone else, from taxpayers and consumers to other businesses.
Why Cronyism Is Antithetical to Capitalism and Free Enterprise