After his defeat in the 1919 election, Mussolini saw no future in trying to out-socialist the socialists. Without a distinct policy, without friends … - Denis Mack Smith

The Mussolini of 1944 reasserted the socialist beliefs of his youth because he now felt that he had been cheated by the world of finance and industry: after having gained immensely from fascism,… To maintain some intellectual coherence he tried to pretend that, notwithstanding appearances, he had never deserted the socialist programme he had put forward for fascism in 1919; he had allowed certain tactical deviations in the interim, but for the most part, his basic views had never changed. In anonymous articles he now confirmed that he had been right when, in 1910, he called on the proletariat to capture power from the capitalists by a bloody revolution. . . He now decreed that all industrial firms employing more than 100 workers would be nationalized.

Bombacci had once been a friend and disciple of Lenin and revived the story that, according to Lenin, Mussolini had been the one serious socialist in Italy. No doubt the Duce was influenced by Bombacci when he called fascism of Salò [Italian Social Republic] the only truly socialist government in existence—with the possible exception of Soviet Russia.

Mussolini had once belonged to the Bolshevik wing of the Italian Socialist party and still in 1924 confessed admiration for Lenin, while Trotsky was quoted as saying that Mussolini was his best pupil.