A political or economic system in which power is held by large corporate groups or organizations rather than individuals or the state alone.
From 'corporate' plus '-ism' (forming ideologies). Developed in late 19th-century political theory to describe systems where organized groups (corporations, unions, guilds) have major political power.
Modern 'corporatism' describes how big companies lobby governments—it's not necessarily fascist, but whenever wealthy organizations control policy more than voters, that's corporatism at work!
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