Friday, April 03, 2009

Fascist Policies

From The American Spectator:

Trying to handle the crisis, the Fascist government nationalized the holdings of large banks which had accrued significant industrial securities. The government also issued new securities to provide a source of credit for the banks and began enlisting the help of various cartels…. The government offered recognition and support to these organizations in exchange for promises that they would manipulate prices in accordance with government priorities. A number of mixed entities were formed… whose purpose it was to bring together representatives of the government and of the major businesses.… This economic model based on a partnership between government and business was soon extended to the political sphere, in what came to be known as corporatism.… The Fascists began to impose significant tariffs and other trade barriers.… Various banking and industrial companies were financially supported by the state.… [The national leader] created the [New Governmental Entity]….[which soon] controlled 20% of [the nation's] industry through government-linked companies.… [The national leader] also adopted a Keynesian policy of government spending on public works to stimulate the economy.… Public works spending tripled to overtake defense spending as the largest item of government expenditure.

the above passage of course describes the economics of fascist Italy in the 1930s,...."The Fascist conception of life," Mussolini wrote, "stresses the importance of the State and accepts the individual only in so far as his interests coincide with the State. It is opposed to classical liberalism [which] denied the State in the name of the individual; Fascism reasserts the rights of the State as expressing the real essence of the individual."

Public-Private partnerships, or the incorporation of private institutions into the state via the regulatory apparatus ( the definition of economic fascism by the way) often benefits 'some' big businesses, and because big business is often associated with the right wing, people often confuse economic fascism with being right wing.