ECONOMIC FASCISM

It may be argued that Mussolini (1883-1945, dictator of Italy 1922-1943) invented modern crony capitalism. Although he described him self as a socialist, he rejected the Marxist version. As he saw it, the state would not own the economy. Ownership would nominally r emain in private hands, although the state would exercise total control. Government control without direct ownership had the advanta ge that when the economy did well, the state could take credit. When the economy did poorly, private parties could be blamed. Prior to the de...[Read more]