It Has Happened Here

America’s Emerging Fascist Economy By Charlotte Twight

Arlington House, 315 pp., $12.95 Fascist Italy and Germany transformed capitalism into a subservient tool of the state and the fascist parties. Fascism left ownership nominally in private hands but imposed heavy controls on all facets of economic activity. Industry was organized into cartels with prices and markets set by political authorities. Banking was either nationalized or dominated by the state. Labor and the unions were closely regulated and wages were a matter of state policy rather than market forces. The fascist goal was autarky, or internal self-sufficiency, and that required massive barriers to import and export.

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Richard S. Wheeler

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America’s Emerging Fascist Economy By Charlotte Twight

Arlington House, 315 pp., $12.95 Fascist Italy and Germany transformed capitalism into a subservient tool of the state and the fascist parties. Fascism left ownership nominally in private hands but imposed heavy controls on all facets of economic activity. Industry was organized into cartels with prices and markets set by political authorities. Banking was either nationalized or dominated by the state. Labor and the unions were closely regulated and wages were a matter of state policy rather than market forces. The fascist goal was autarky, or internal self-sufficiency, and that required massive barriers to import and export.