Robber baron (industrialist)
Robber baron is a term first applied as social criticism by 19th century muckrakers and others to certain wealthy, powerful, and unethical 19th-century American businessmen. The term appeared in that use as early as the August 1870 issue of The Atlantic Monthly magazine. By the late 19th century, the term was typically applied to businessmen who used exploitative practices to amass their wealth. Those practices included unfettered consumption and destruction of natural resources, influencing high levels of government, wage slavery, squashing competition by acquiring their competitors to create monopolies and/or trusts that control the market, and schemes to sell stock at inflated prices to unsuspecting investors. The term combines the sense of criminal ("robber") and illegitimate aristocracy (“baron”) in a republic.
1904 depiction of an acquisitive and manipulative Standard Oil (at the time driven by autocratic robber baron founder John D. Rockefeller) as an all-powerful octopus
1901 US cartoon from Puck depicting John D. Rockefeller as a business despot
Crony capitalism, sometimes also called simply cronyism, is a pejorative term used in political discourse to describe a situation in which businesses profit from a close relationship with state power, either through an anti-competitive regulatory environment, direct government largesse, and/or corruption. Examples given for crony capitalism include obtainment of permits, government grants, tax breaks, or other undue influence from businesses over the state's deployment of public goods, for example, mining concessions for primary commodities or contracts for public works. In other words, it is used to describe a situation where businesses thrive not as a result of free enterprise, but rather collusion between a business class and the political class.
South Korean President Park Geun-hye at a breakfast meeting with business magnates Lee Kun-hee and Chung Mong-koo. A group of massive, mostly family-run business conglomerates, called chaebol, dominates South Korea's economy.
"The Bosses of the Senate", corporate interests as giant money bags looming over U.S. senators