How close is the US to crony capitalism?

This podcast episode from "The Indicator from Planet Money" discusses the concept of crony capitalism, defined as businesses succeeding or failing based on their connections to politicians rather than merit. The hosts, Darian Woods and Adrian Ma, explore how this phenomenon, initially coined to describe the Filipino government under Ferdinand Marcos, is now being discussed in the context of the U.S. under President Trump. They reference The Economist's crony capitalism index, which measures billionaire wealth derived from "cronyistic sectors," and discuss concerns raised by commentators like Walter Isaacson and Archie Hall from The Economist about the blurring lines between government and business, particularly regarding deals like the TikTok acquisition and the impact of tariffs. The episode concludes by highlighting the potential risks of such practices, drawing a parallel to the economic crash in the Philippines in the 1980s.