Capitalism versus Fascism
Capitalism is an economic system based on the private ownership of the means of production and their operation for profit.[1][2][3][4] Central characteristics of capitalism include capital accumulation, competitive markets, a price system, private property and the recognition of property rights, voluntary exchange and wage labor.[5][6] In a capitalist market economy, decision-making and investments are determined by owners of wealth, property, or production ability in capital and financial markets—whereas prices and the distribution of goods and services are mainly determined by competition in goods and services markets.[7]
Economists, historians, political economists and sociologists have adopted different perspectives in their analyses of capitalism and have recognized various forms of it in practice. These include laissez-faire or free-market capitalism, state capitalism and welfare capitalism. Different forms of capitalism feature varying degrees of free markets, public ownership,[8] obstacles to free competition and state-sanctioned social policies. The degree of competition in markets and the role of intervention and regulation as well as the scope of state ownership vary across different models of capitalism.[9][10] The extent to which different markets are free and the rules defining private property are matters of politics and policy. Most of the existing capitalist economies are mixed economies that combine elements of free markets with state intervention and in some cases economic planning.[11]
Market economies have existed under many forms of government and in many different times, places and cultures. Modern capitalist societies developed in Western Europe in a process that led to the Industrial Revolution. Capitalist systems with varying degrees of direct government intervention have since become dominant in the Western world and continue to spread. Economic growth is a characteristic tendency of capitalist economies.[12]
Critics of capitalism argue that it concentrates power in the hands of a minority capitalist class that exists through the exploitation of the majority working class and their labor; prioritizes profit over social good, natural resources and the environment; is an engine of inequality, corruption and economic instabilities; is anti-democratic; and that many are not able to access its purported benefits and freedoms, such as freely investing. Supporters argue that it provides better products and innovation through competition, promotes pluralism and decentralization of power, disperses wealth to people who are able to invest in useful enterprises based on market demands, allows for a flexible incentive system where efficiency and sustainability are priorities to protect capital, creates strong economic growth, and yields productivity and prosperity that greatly benefit society.
Fascism (/ˈfæʃɪzəm/) is a form of far-right, authoritarian ultranationalism[1] characterized by dictatorial power, forcible suppression of opposition, and strong regimentation of society and of the economy,[2] which came to prominence in early 20th-century Europe.[3] The first fascist movements emerged in Italy during World War I, before spreading to other European countries.[3] Opposed to anarchism, democracy, liberalism, and Marxism, fascism is placed on the far right-wing within the traditional left–right spectrum.[3][4]
Fascists saw World War I as a revolution that brought massive changes to the nature of war, society, the state, and technology. The advent of total war and the total mass mobilization of society had broken down the distinction between civilians and combatants. A military citizenship arose in which all citizens were involved with the military in some manner during the war.[5] The war had resulted in the rise of a powerful state capable of mobilizing millions of people to serve on the front lines and providing economic production and logistics to support them, as well as having unprecedented authority to intervene in the lives of citizens.[5]
Fascists believe that liberal democracy is obsolete and regard the complete mobilization of society under a totalitarian one-party state as necessary to prepare a nation for armed conflict and to respond effectively to economic difficulties.[6] A fascist state is led by a strong leader (such as a dictator) and a martial law government composed of the members of the governing fascist party to forge national unity and maintain a stable and orderly society.[6]Fascism rejects assertions that violence is automatically negative in nature and views imperialism, political violence and war as means that can achieve national rejuvenation.[7]Fascists advocate a mixed economy, with the principal goal of achieving autarky (national economic self-sufficiency) through protectionist and economic interventionist policies.[8]The extreme authoritarianism and nationalism of fascism often manifests a belief in racial purity or a master race, usually synthesized with some variant of racism or bigotry of a demonized “Other“; the idea of racial purity has motivated fascist regimes to commit massacres, forced sterilizations, genocides, mass killings, or forced deportations against a perceived “Other”.[9]
Since the end of World War II in 1945, few parties have openly described themselves as fascist, and the term is instead now usually used pejoratively by political opponents. The descriptions of neo-fascist or post-fascist are sometimes applied more formally to describe contemporary parties of the far-right with ideologies similar to, or rooted in, 20th-century fascist movements.[3][10]
Now that you’ve read both encyclopedia explanations from Wikipedia. You might have found some resemblance. Good for you! I live in the Netherlands. It’s fascist but they claim to be capitalists. End of story!