ABraut is partially correct in criticizing the initial writeup here as failing the classic definition of fascism in that the essential component of nationalism is omitted. However, this analysis ignores the forest by focusing on a single tree. If we look at the modern corporatist resurgence in a global sense, with transnational progressive politicians and multinational corporate executives acting in concert to achieve a global state, it becomes clear that there is no distinction between modern corporatism and traditional fascism, with increasingly partisan, politicized labor movements supplying the necessary analog to the Blackshirts of fascist Italy.
Contrary to Galbraith's assertion in American Capitalism, Big Government, Big Business and Big Labor are not countervailing forces working against each other to achieve a balance of political power in society. Instead, they form an iron triangle working against the best interests of both the bourgeoisie and the proletariat.* Executives rotate into governmental regulatory agencies and return to private business; government officials retire and accept lucrative positions on corporate boards; labor unions extract ever-higher wages and benefits from corporations with the assistance of labor laws, and funnel a significant portion of their dues into supporting pro-labor politicians. In addition to the aforementioned regulatory capture, businesses can also use their connections in government to gain lucrative contracts or tie up competitors in legalities. Big Business can further stifle competition by seeing to it that burdensome regulations are passed that make it difficult for small businesses to prosper and grow to become threats to established big businesses.
There's not much to choose from between the old fascism and the new fascism. Less violence in the streets, I suppose, and an absence of party uniforms. It's early innings yet.
* Compare this to the power triad of the Party organization, the military, and the secret police in the Soviet Union
and other totalitarian states