Corporate State

The corporate state is a political and economic system where the government and major industries work closely together, often through organized groups called corporatist bodies. In this setup, economic activities and policies are coordinated among government officials, business leaders, and labor representatives to promote national goals. It aims to reduce conflicts between different economic sectors and streamline decision-making. While it can foster unity and efficiency, it also risks limiting individual economic freedoms and concentrating power. The corporate state was notably associated with fascist regimes in the early 20th century, though variations of close government-industry cooperation exist in other systems.