Donald Trump: An American Crony Capitalist?
President-elect Donald Trump was accused of cronyism after sealing a deal to keep jobs in America. So what is crony capitalism?
In late 2016, former governor Sarah Palin accused president-elect Donald Trump of taking part in crony capitalism. The accusation came after a deal Trump made with an air conditioning company to keep a number of jobs in the United States.
Many believe Trump used his new powers to sway the deal, which involved $7 million dollars in incentives to the company. A deal like this has the potential to become favoritism, which is the basis of crony capitalism.
So, what exactly is crony capitalism? Watch today's Seeker Daily video to find out.
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