Corporatism

Corporatism is a political and economic system where different interest groups, such as businesses, labor unions, and professional organizations, are officially recognized and integrated into the decision-making process of a country. Instead of each group competing independently, they work together within a structured framework to shape policies and society. This collaboration aims to promote social harmony and economic stability by balancing interests and avoiding conflict. While it can foster cooperation, it also risks giving prominent groups disproportionate influence over government decisions.