It is, afaik, the literal, actual, unironic definition of the fascist economic model. Basically, the public sector only really exists in the form of “private” companies that are tightly coupled to the government.
thats what they taught us about communist Russia when i was in highschool
Our economics class learned that their “public” sector was a mix of private companies acting as both private citizens AND government agencies.
And my teacher was like “imagine if all the roads and utilities and infrastructure for the country was run by private, FOR PROFIT businesses that benefit from laws written for citizens, AND from laws written for corporations but are not bound by either”
20 years later i realize thats how its been here the whole time