Germany's democratic arrangement whereby business, labor, and the state work within an explicit framework to guide the economy toward future goals is called:

Question

Quizplus · Accepted Answer

The arrangement described in the question is best categorized as neocorporatism, which involves a collaborative relationship among business, labor, and the state to guide the economy towards specific goals. While collaborationism also involves cooperation among these actors, neocorporatism is more specific in its goals and involves a formal framework for decision-making. Federalism refers to a political arrangement whereby power is shared between a central government and regional governments. Codetermination is a practice in which workers have a role in decision-making within a company. Welfarism refers to a political and economic system focused on providing social welfare benefits to citizens.

Germany's Democratic Arrangement Whereby Business, Labor, and the State Work