I think be definition, socialism IS crony. It basically allocates the majority of resource to one small group of people (the government) and distributes what is left to the other 90%. I think the reason that we use crony-capitalism instead is because corporations have been able to take over the government and claim 'personhood' for a non-living entity, essentially granting them rights. Now these fake 'persons' are bribing elected officials to make rules that benefit only them. In a twisted legal way, they are still the individual because of their status, they just have the government allocating resources to them in exchange for money. I believe the proper term ends up being crony-corporatism.

Thanks for your thoughts, I have not heard this interpretation before. I do have a small suggestion that your formatting could be a little easier on the eyes, especially in the 2nd paragraph. Great post!