…is still Fascism.
They will try to dumb you down, they will try to steal and corrupt language for their own purposes, they will try to erode the level of discourse down to where they need it to be — don’t let them do it. Professional leftists and progressives, big-government types, the academe, the media, union leaders, whose livelihoods depend upon the huge machinery of the state, will confuse corporatism(or “cronyism”) with Capitalism, and they do it on purpose. They do it to destroy the impeccable record of the free market for creating vast amounts of wealth, for raising the standard of living of all those in economically and politically free nations(to the degree that Capitalism exists anywhere), for civilizing the planet, even greatly benefiting those not living under it.
Let’s be crystal clear in defining the terms we’re working with. Laissez-faire Capitalism(real Capitalism) necessarily requires the complete and total separation of state and economics — which makes corporatism impossible in the literal sense of the word. One of the preferred strategies of opponents of Capitalism is the straw-man technique described above, whereby they criticize cronyism/corporatism(which is, strictly speaking, Fascism), while framing it as Capitalism. The most ironic part being that they are advocating for more of the fascist/socialist policies that actually caused whatever ailment they are blaming Capitalism for.
Among other, totalitarian social aspects, for which fascism is known for, is perhaps the most important aspect of it: the economic posture of fascism makes it perhaps more insidious and destructive than socialism or communism, which requires state ownership of all industry and business, while fascism only requires state control. Private ownership is retained, but totalitarian centralized control is achieved through regulation by the state, which allows failures of policy to be blamed on private ownership and free markets, and which allows them to demand more government regulation and control. This process may be repeated until the inevitable collapse of the entire facade, as has been the result of all nations who progress to achieve complete statist/leftist tyranny.
A quote, from Benito Mussolini himself: “Fascism should more appropriately be called Corporatism because it is a merger of state and corporate power.” He is describing two different types of power — corporate power(economic), and political power(guns, force, violence, coercion). The two could not be more different in nature. But that’s another discussion.