Politics

“While communism is the control of business by government, fascism is the control of government by business.” – Robert F. Kennedy Jr.

Fascists opposed what they believed to be laissez-faire or quasi-laissez-faire economic policies dominant in the era prior to the Great Depression. People of many different political stripes blamed laissez-faire capitalism for the Great Depression, and fascists promoted their ideology as a “third way” between capitalism and Marxian socialism. Their policies manifested as a radical extension of government control over the economy without wholesale expropriation of the means of production. Fascist governments nationalized some key industries, managed their currencies and made some massive state investments. They also introduced price controls, wage controls and other types of economic planning measures. Fascist governments instituted state-regulated allocation of resources, especially in the financial and raw materials sectors.