corporatism
/ˈkɔrpərəˌtɪzəm/
noun
- A system in which a society or economy is organized into large groups (such as businesses, labor unions, and government) that work together to make decisions.
- The country's economic model is based on corporatism, with close ties between government and industry.
- Some critics argue that corporatism gives too much power to big companies.
- Corporatism can lead to policies that favor large organizations over individuals.
- The control of a society or economy by large corporations, often seen as negative.
- The protest was against corporatism and its influence on elections.
- Corporatism is sometimes blamed for increasing inequality.
- Many people worry about the rise of corporatism in politics.