Monday, April 27, 2009

It's clearly time to use the "F" word

Fascism, also known as corporatism.

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.--The Concise Encyclopedia of Economics

Read this article from today's Wall Street Journal and see if you don't agree that our government is employing fascist tactics.

Busting Bank of America


1 comment:

LB said...

It's very disturbing that the phrase "the government as a business partner" doesn't seem to give anyone pause these days.