Crony capitalismCrony capitalism, sometimes called cronyism, is an economic system in which businesses thrive not as a result of free enterprise, but rather as a return on money amassed through collusion between a business class and the political class. This is often achieved by the manipulation of relationships with state power by business interests rather than unfettered competition in obtaining permits, government grants, tax breaks, or other forms of state intervention over resources where business interests exercise undue influence over the state's deployment of public goods, for example, mining concessions for primary commodities or contracts for public works.
Developing countryA developing country is a sovereign state with a less developed industrial base and a lower Human Development Index (HDI) relative to other countries. However, this definition is not universally agreed upon. There is also no clear agreement on which countries fit this category. The terms low and middle-income country (LMIC) and newly emerging economy (NEE) are often used interchangeably but refers only to the economy of the countries.
DictatorshipA dictatorship is an autocratic form of government which is characterized by a leader, or a group of leaders, who hold governmental powers with few to no limitations. Politics in a dictatorship are controlled by a dictator, and they are facilitated through an inner circle of elites that includes advisers, generals, and other high-ranking officials. The dictator maintains control by influencing and appeasing the inner circle and repressing any opposition, which may include rival political parties, armed resistance, or disloyal members of the dictator's inner circle.
Rule of lawThe rule of law is a political ideal that all citizens and institutions within a country, state, or community are accountable to the same laws, including lawmakers and leaders. The term rule of law is closely related to constitutionalism as well as Rechtsstaat. It refers to a political situation, not to any specific legal rule. The rule of law is defined in the Encyclopedia Britannica as "the mechanism, process, institution, practice, or norm that supports the equality of all citizens before the law, secures a nonarbitrary form of government, and more generally prevents the arbitrary use of power.
Liberal democracyLiberal democracy or western democracy is the combination of a liberal political philosophy that operates under a representative democratic form of government. It is characterized by elections between multiple distinct political parties, a separation of powers into different branches of government, the rule of law in everyday life as part of an open society, a market economy with private property, universal suffrage, and the equal protection of human rights, civil rights, civil liberties and political freedoms for all people.
AutocracyAutocracy is a system of government in which absolute power is held by the ruler, known as an autocrat. It includes most forms of monarchy and dictatorship, while it is contrasted with democracy and feudalism. Various definitions of autocracy exist. They may restrict autocracy to a single individual, or they may also apply autocracy to a group of rulers who wield absolute power. The autocrat has total control over the exercise of civil liberties within the autocracy, choosing under what circumstances they may be exercised, if at all.
