What is Fascism?

As an economic system, fascism is socialism with a capitalist veneer. The word derives from fasces, the Roman symbol of collectivism and power: a tied bundle of rods with a protruding ax. In its day (the 1920s and 1930s), fascism was seen as the happy medium between boom-and-bust-prone liberal capitalism, with its alleged class conflict, wasteful competition, and profit-oriented egoism, and revolutionary Marxism, with its violent and socially divisive persecution of the bourgeoisie. Fascism substituted the particularity of nationalism and racialism—“blood and soil”—for the internationalism of both classical liberalism and Marxism.

Ideology, Identity, Solidarity, and Collective Action

The interrelated complex of ideology, identity, solidarity, and collective action form the ground level in fruitful social analysis. Leaving out this complex, as both mainstream and Austrian economists usually do, means that one sacrifices the opportunity to understand what otherwise seems inexplicable or gets explained only by bizarrely twisting the standard model. At least, so I have argued since the early 1980s, most fully in chapter 3 of Crisis and Leviathan, but with some elaboration and many applications in later works.