1. a governmental system led by a dictator having complete power, forcibly suppressing opposition and criticism, regimenting all industry, commerce, etc., and emphasizing an aggressive nationalism and often racism.
1. a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole.
If you look at the United States government today, there are elements of both fascism and socialism at work in its' actions.
The latest example is the Obama administration's call for a "a new, strong, independent agency with full authority to protect consumers from unfair practices." This agency will provide (from Foxbusiness.com):
--Strong oversight of financial firms.
--Strengthening the regulation of core markets and infrastructure.
--Strengthen consumer protection.
--Ensure the government has the tools to effectively manage financial crises.
--Ensure high standards, not just in the U.S. but also globally.
The scariest line comes from a CNNMoney.com article on this subject: "The Federal Deposit of Insurance Corp. could get more power to take over and unwind financial companies, beyond banks, that are in deep trouble."
Hello, fascialism, a perfect combination of the regimentation of all industry and commerce (aka fascism), with "the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole" (aka socialism).
While I would like to take credit for the new word, I can't. Thomas J. DiLorenzo beat me by five days. He also wrote a much better column about it (link here).
So let us quit calling Obama a fascist or a socialist. Let us call him a fascialist, and let the Left try to run away from that label.