Corporatocracy

Part of speech: noun

Definitions

1. A governance model in which corporate entities wield substantial influence over governmental operations and policies
2. A political environment characterized by the overpowering presence of business interests in legislative decisions and public affairs
3. A system of governance where financial corporations exert dominance over political processes and influence policy-making

Etymology: "Corporatocracy" is a plain compound, built in English from "corporate" plus the "-o-" linking vowel and "-cracy," the suffix taken from Greek "kratia," meaning "rule" or "power." The pattern is the same as "democracy" or "aristocracy," with the first element swapped for a word describing a corporation, a body that is legally treated as a single entity distinct from its members. The result names rule by corporations, although the grammar of "corporate" itself comes from Latin "corporatus," meaning "formed into a body." The word's most notable feature is how it sits alongside its older relatives. "Democracy" means rule by the people, and "plutocracy" means rule by the wealthy, so "corporatocracy" slots into a familiar family of labels for who holds power. The coinage describes a concern about the influence of large companies on government rather than a formal constitutional arrangement, which is why it is used mostly as a critical term instead of a neutral description of a government type.

Synonyms: corporate oligarchy, business dictatorship, corporate governance, business elite, business power