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For reference: https://en.wikipedia.org/wiki/Corporatism

Corporatism does not refer to a political system dominated by large business interests, even though the latter are commonly referred to as “corporations” in modern American vernacular and legal parlance; instead, the correct term for this theoretical system would be corporatocracy. Corporatism is not government corruption in politics or the use of bribery by corporate interest groups. The terms ‘corporatocracy’ and ‘corporatism’ are often confused due to their name and the use of corporations as organs of the state.