corporativism
/ˈkɔrpərətɪvɪzəm/
noun
- A political or economic system in which society is organized into major interest groups (such as business, labor, and agriculture) that work together under government guidance.
- Some modern countries use elements of corporativism to manage labor relations.
- The debate about corporativism often focuses on whether it helps or hinders democracy.
- Corporativism was a key feature of some 20th-century authoritarian governments.