One Hundred Years of Fascism

It is fashionable for Trump’s critics to label him as a fascist. While that label is correct, few realize that many of his critics and political opponents also embrace fascism. Indeed, over the past one hundred years, nearly every President has supported policies consistent with fascism.

Contrary to conventional wisdom, fascism is not a right-wing ideology. It is a Leftist ideology along with its intellectual cousins socialism and communism. The full name of the Nazi Party was the National Socialist Workers’ Party of Germany.

Under socialism and communism, the government owns the means of production, such as land and factories. Under fascism, private individuals hold title to the means of production, but the government controls and dictates its use. Under fascism, ownership is nominal—in name only.

Consider zoning and other land use regulations as an example. Zoning regulations dictate how a parcel of land can be used, and any other use is prohibited by law. An individual (or business) holds title to the land, but he can use that land only as the government permits.

As another example, Trump recently called for a one-year cap on the interest rates charged by credit card companies. Credit card companies will own title to their business, but they must operate as the government dictates.

A year ago, socialist Senator Bernie Sanders introduced a bill to establish a ten-year cap on interest rates. Like Trump, he didn’t propose that the government take ownership of credit card companies. Instead, both have proposed that the government dictate how those private companies can operate.

Hedge fund manager Bill Ackman called Trump’s proposal a mistake. He wrote on X,

Without being able to charge rates adequate enough to cover losses and to earn an adequate return on equity, credit card lenders will cancel cards for millions of consumers who will have to turn to loan sharks for credit at rates higher than and on terms inferior to what they previously paid.

 And when Ackman’s prediction comes true, and it will, the government will implement new controls in a futile attempt to fix the problems caused by past controls.

Rather than nationalize the nation’s industries, Germany’s fascists dictated how businesses operated. For one hundred years, America’s fascists have done the same thing.