Corporatism vs. capitalism
I think these two terms need to be clearly explained. I had a conversation with a Marxist hoping for some illumination. The only thing I learned is they are confusing corporatism for capitalism.
Corporatism is not something we want. It is a form of syndication favoured by Marxism. Under such systems, society is broken into collectivist groups, for example: labour unions, management and industrial organizations. It is only those groups that have political representation. Making the consumer and individual irrelevant. (Only corporate lobbyists allowed.) As no smaller enterprise can enter the industry, the monopolies dictate terms to the consumer (you and I).
Corporatism originated with the American Progressives, and later by Mussolini in Italy, Hitler in Germany, and Roosevelt in the U.S. (struck down by the Supreme Court in 1935 as unconstitutional). It requires state involvement bringing in cronyism, corporate welfare, and bailouts. (2008 crash ringing any bells?)
The Russian oligarchs (rule of the few) are another example of corporatism. Boris Yeltsin handed over state assets at non-market prices (sometimes free) to his friends. With such close ties to government the oligarchs were able to use government funds for their enterprises and legislation making it near impossible for competition. Much like how the “green” renewable energy works here. (Planet of the Humans)
Communist China, seeing the failure of the command economy (the great leap forward, 45 million dead) transitioned to corporatism. Any large corporation is headed by party elite and competition is barred.
Canada too has been impacted by such ideologies. The Ad Scam controversy under Martin and Chrétien for example, now we have the WE scandal that appears to be giving taxpayers’ money away to friends and family members of friends.