@Debateable - so how did the corporations emerge from the 'true' capitalism of 3/4 of a century ago if not by people voting with their dollars - and is it not true to say that corporations also vote with their dollars - which is what you mean by 'lobbying'. It seems to me that the corporations are indeed beholden to people (aka the market, aka the combined effect of our consumer choices) but not to the government because they can buy their way to changing the government's mind or even changing the government itself in some cases. Corporations were not invented by socialist governments, they were invented by wealthy capitalists to further their own capitalist ambitions. And, if you subscribe to capitalism, it has to be the right thing to do because it places control of the means of production in the hands of those who are most likely to increase the economic 'wealth of nations'. The idea that we can have lots of small businesses all doing the same thing in different ways and still get the economic advancement that capitalist government requires (as a metric of its success) just doesn't float - its pie in the sky and could only be realized by significantly more stringent and arbitrary regulations about how and where (in terms of international boundaries, tax laws, trade etc.) business can be conducted.
The truth is, corporatism is the monster our so-called 'free-market' has created and having less government control at this stage will only feed its appetite for power and strengthen the grip of their bankers over the actual financial decisions of government. But in the end, the real power is still in the hands of the people. Nobody can force us to buy goods and services we don't want and if we all make informed choices, the market will do whatever we tell it to. If we all stop buying fossil fuels (impossible perhaps, but hypothetically, for the sake of discussion) the multi-national oil corps would have no choice but to either diversify into 'renewables' or fail completely. At present, because of the obvious gullibility of the 'market', the corporations merely have to sew the seeds of doubt by getting a handful of scientists to emphasize the 'margins of error' in the data and their political lackeys are more than happy to run with that on their behalf. The thing that saddens me most of all is that even thinking people seem to be unable to see through all that to the reality - that our consumer choices are damaging our own environment to the point that the future of our children and grandchildren is threatened, and the power is in our hands to fix it and yet we either choose not to or imagine we are powerless to do so.