Phelps further elaborates on classic corporatism by drawing on the example of Interwar Italy: “Classic corporatism, such as Mussolini’s, sought to restructure the capitalist economy so as to speed economic growth – growth of productivity and national power – beyond the capacity of Continental capitalism. This meant state initiatives to that end in both the public and private sectors. The quest for growth was to be subject to “solidarity” and “social protection.” That meant “concertation” with the “social partners,” subsidies for regions or industries, and social charges. Put equivalently, the state took whatever measures it deemed desirable in the name of solidarity and protection, constrained by the need to show efforts to restore growth whenever the economy flagged.”

http://capitalism.columbia.edu/files/ccs/CCSWP73_Ammous%202011-10-21.pdf