Mussolini handled things this way in Italy. It's called Fascism.
A dictionary definism of fascism is ...
"a government system with strong centralized power, permitting no opposition or criticism, controlling all affairs of the nation (industrial, commercial, etc.), emphasizing an aggressive nationalism."
Wasn't it Mussolini that was ultimately hung by his heels?
“but he argues that government is essential to this process.”
As in picking winners and losers, who so ever is closest to the reigns of power will win.
Mussolini also spoke of ‘Corporatism’ which is exactly what we now have. We’ve quickly gone from a mixed economy (started by FDR) to Nationalism of businesses.
If you argue with ‘Progressives’ they will tell you that Socialism is government ownership of businesses. But as anyone from Hitler/Mussolini to Putin/Obama will tell you, You don’t need to OWN the business to control it’s operations. It’s all in the Regulation.