by Thomas J. DiLorenzo
by Thomas J. DiLorenzo
When people hear the word “fascism” they naturally think of its ugly racism and anti-Semitism as practiced by the totalitarian regimes of Mussolini and Hitler. But there was also an economic policy component of fascism, known in Europe during the 1920s and ’30s as “corporatism,” that was an essential ingredient of economic totalitarianism as practiced by Mussolini and Hitler. So-called corporatism was adopted in Italy and Germany during the 1930s and was held up as a “model” by quite a few intellectuals and policy makers in the United States and Europe. A version of economic fascism was in fact adopted in the United States in the 1930s and survives to this day. In the United States these policies were not called “fascism” but “planned capitalism.” The word fascism may no longer be politically acceptable, but its synonym “industrial policy” is as popular as ever.
These exact sentiments were expressed by Robert Reich (currently the U.S. Secretary of Labor) and Ira Magaziner (currently the federal government’s health care reform “Czar”) in their book Minding America’s Business. In order to counteract the “untidy marketplace,” an interventionist industrial policy “must strive to integrate the full range of targeted government policies — procurement, research and development, trade, antitrust, tax credits, and subsidies — into a coherent strategy . . . .”
Current industrial policy interventions, Reich and Magaziner bemoaned, are “the product of fragmented and uncoordinated decisions made by [many different] executive agencies, the Congress, and independent regulatory agencies . . . . There is no integrated strategy to use these programs to improve the . . . U.S. economy.”
In his 1989 book, The Silent War, Magaziner reiterated this theme by advocating coordinating groups like the national Security Council to take a “strategicnational industrial view.”
The White House has in fact established a “National Economic Security Council.” Every other advocate of an interventionist “industrial policy” has made a similar “unity of aim” argument, as first described by Pitigliani more than half a century ago.
Government-business partnerships. A third defining characteristic of economic fascism is that private property and business ownership are permitted, but are in reality controlled by government through a business-government “partnership.” As Ayn Rand often noted, however, in such a partnership government is always the senior or dominating “partner.” Read More: http://www.lewrockwell.com/dilorenzo/dilorenzo85.html
if you really need to watch the drival from Reich, George Soros and Moveon.org, here it is… The Truth About The Economy In 2 Minutes-front.moveon.org