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Corporatism - Wikipedia, the free encyclopedia
"Historically, corporatism or corporativism (Italian: corporativismo) refers to a political or economic system in which power is given to civic assemblies that represent economic, industrial, agrarian, social, cultural, and professional groups. These civic assemblies are known as corporations (not necessarily the business model known as a 'corporation' though such businesses are not excluded from the definition either). Corporations are unelected bodies with an internal hierarchy; their purpose is to exert control over the social and economic life of their respective areas. Thus, for example, a steel corporation would be a cartel composed of all the business leaders in the steel industry, coming together to discuss a common policy on prices and wages. When the political and economic power of a country rests in the hands of such groups, then a corporatist system is in place. ..." |
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Where Free-Market Economists Go Wrong, by Sheldon Richman, 1 Feb 2008
Discusses the economic stimulus proposals and the failure of many free-market economists to point out that the current economic system is not truly a free market
"What we have is corporatism, an interventionist system shot through with government-granted privileges mostly for the well-connected (yes, who tend to be rich). This system is maintained in a variety of ways: through taxes, subsidies, cartelizing regulations, 'intellectual property' protections, trade restrictions, government-bank collusion, the military-industrial complex, land close-offs, restrictions on workers, and more. As a result, people can get rich at the expense of the government's victims." |
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