Corporatism is a
collectivist,
political ideology which advocates the organization of society by
corporate groups, such as agricultural, labour, military, business, scientific, or guild associations, on the basis of their common interests.
[2][3] The term is derived from the Latin
corpus, or "
human body". The hypothesis that society will reach a peak of harmonious functioning when each of its divisions efficiently performs its designated function, such as a body's organs individually contributing its general health and functionality, lies at the center of corporatist theory.
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 legal and pop cultural parlance; instead, the correct term for this theoretical system would be
corporatocracy. However, the Cambridge dictionary says that a corporate state is a country in which a large part of the economy is controlled by the government.