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Step-by-step explanation:
I think James Madison would definitely describe modern corporations as a faction. It seems like today there are almost no companies that hold the common good as a priority. Many companies can be taken as an example here, they do not care about the environment, they do not care of the sweatshops that they have children working in to make their products, they only care about the money they're making and the fact that they are rich. Madison states how part of the reason factions are made is because they are focused on property and money, which is very similar to modern-day corporations.