Wednesday, January 28, 2009
Socialism or Fascism?
Car czars forcing auto lending? Treasury coercing "patriotic" bank mergers? Unfettered TARP and TALF dole outs? Congress dictating executive pay? Bad banks?
Consider those government activities as you read the following excerpt on fascism from The Concise Encyclopedia of Economics:
Although the article is describing fascism in its heyday of the early 20th century, the parallels to U.S. governmental policy of the early 21st century are truly frightening: Are we hurtling down the road to neo-fascism in America? --GAHjr
Consider those government activities as you read the following excerpt on fascism from The Concise Encyclopedia of Economics:
Where socialism sought totalitarian control of a society’s economic processes through direct state operation of the means of production, fascism sought that control indirectly, through domination of nominally private owners. Where socialism nationalized property explicitly, fascism did so implicitly, by requiring owners to use their property in the "national interest" — that is, as the autocratic authority conceived it. (Nevertheless, a few industries were operated by the state.) Where socialism abolished all market relations outright, fascism left the appearance of market relations while planning all economic activities. Where socialism abolished money and prices, fascism controlled the monetary system and set all prices and wages politically. In doing all this, fascism denatured the marketplace. Entrepreneurship was abolished. State ministries, rather than consumers, determined what was produced and under what conditions.
Although the article is describing fascism in its heyday of the early 20th century, the parallels to U.S. governmental policy of the early 21st century are truly frightening: Are we hurtling down the road to neo-fascism in America? --GAHjr
