As Wikipedia points out, this is not corporatocracy, a political system dominated by large business interests.
“Within the corporative model of Italian fascism, each corporate interest was supposed to be resolved and incorporated under the state. Much of the corporatist influence upon Italian Fascism was partly due to the Fascists’ attempts to gain endorsement by the Roman Catholic Church that itself sponsored corporatism.
“However, fascist corporatism was a top-down model of state control over the economy while the Roman Catholic Church’s corporatism favored a bottom-up corporatism, whereby groups such as families and professional groups would voluntarily work together.
“The fascist state corporatism … influenced the governments and economies of not only other Roman Catholic-majority countries, such as the governments of Engelbert Dollfuss in Austria and António de Oliveira Salazar in Portugal, but also Konstantin Päts and Kārlis Ulmanis in non-Catholic Estonia and Latvia. …”
Fascinating look at history. I learned about it from a YouTuber’s comment on tradwave’s posting. What a resource good people are.