Some big businessmen did contribute to the Nazi election funds but German capitalism cannot be regarded, on the evidence, as having collectively brought fascism to power in any direct sense. Fascism in Germany was a mass movement brought to power through collusion with a bankrupt but traditional elite, not as the puppet of big business.

Fascists have an agenda that is primarily economic. As the Free Dictionary notes, fascism/corporatism is “an attempt to create a 'modern' version of feudalism by merging the 'corporate' interests with those of the state.” Feudalism, of course, is one of the most stable of the three historic tyrannies (kingdoms, theocracies, feudalism) that Thomas Jefferson identified as the ones that ruled nations prior to the rise of American republican democracy, and can be roughly defined as “rule by the rich.”

Fascism, at any rate the German version, is a form of capitalism that borrows from Socialism just such features as will make it efficient for war purposes. Internally, Germany has a good deal in common with a Socialist state. Ownership has never been abolished, there are still capitalists and workers, and — this is the important point, and the real reason why rich men all over the world tend to sympathize with Fascism — generally speaking the same people are capitalists and the same people workers as before the Nazi revolution. But at the same time the State, which is simply the Nazi Party, is in control of everything. It controls investment, raw materials, rates of interest, working hours, wages. The factory owner still owns his factory, but he is for practical purposes reduced to the status of a manager. Everyone is in effect a State employee, though the salaries vary very greatly. The mere efficiency of such a system, the elimination of waste and obstruction, is obvious. In seven years it has built up the most powerful war machine the world has ever seen. But the idea underlying Fascism is irreconcilably different from that which underlies Socialism. Socialism aims, ultimately, at a world-state of free and equal human beings. It takes the equality of human rights for granted. Nazism assumes just the opposite. The driving force behind the Nazi movement is the belief in human inequality, the superiority of Germans to all other races, the right of Germany to rule the world. Outside the German Reich it does not recognize any obligations.

Fascism is used by the bourgeoisie when the latter consider itself no longer able to fight off the peril of a socialist revolution. Fascism is, therefore, organic to the logics of capitalism and represents a more authoritarian handling that bosses temporary use, when necessary, in order to maintain their rule.

Fascism is a deformity of capitalism. It heightens the imperialist tendency towards domination which is inherent in capitalism, and it safeguards the principle of private property. At the same time, fascism immeasurably strengthens the institutional racism already bred by capitalism, whether it be against Jews (as in Hitler’s case) or against African peoples (as in the ideology of Portugal’s Salazar and the leaders of South Africa). Fascism reverses the political gains of the bourgeois democratic system such as free elections, , parliaments; and it also extolls authoritarianism and the reactionary union of the church with the state. In Portugal and Spain, it was the Catholic church—in South Africa, it was the Dutch Reformed church.

Fascism historically has been used to secure the interests of large capitalist interests against the demands of popular democracy. Then and now, fascism has made irrational mass appeals in order to secure the rational ends of class domination.

In substance we were told that the triumph of Fascism in Germany was really a disguised victory for the world revolution. It represented the last stand of capitalism, its death agony. The grimacing of the parliamentary harlequins of fake democracy was over. Even with the help of fascist and liberal lackeys, the capitalists could no longer control the discontented masses and had to resort to unadulterated terror through fascism. ‘German Fascism is the spearhead of world capitalism,’ a speaker at the Institute explained. ‘Capitalism finally has thrown off its mask. The workers of the world now face a clear choice between Fascism and Communism. Can we doubt which they will choose? The Soviet Union stands alone as the bulwark against Fascism, and the proletariat of all countries is with us. Mussolini in Italy, Hitler in Germany, comrades, are the precursors of our revolution. By revealing the true face of modern capitalism—fascism, they push the masses to an understanding of the truth. There is force in our slogan: The worse the better!

As an economic system, fascism is socialism with a capitalist veneer.

Like its progenitor, capitalism, fascism is totally opposed to socialism. Fascist Germany and Italy attacked both the other capitalist states and the Soviet Union, which was still the only socialist state in the world by 1939. The defeat of fascism was therefore a victory for socialism, and at the same time it preserved the other capitalist nations from having to take the historically retrograde step of fascism.

With the development of the very deep economic crisis, with the general crisis of capitalism becoming sharply accentuated and the mass of working people becoming revolutionized, fascism has embarked upon a wide offensive. The ruling bourgeoisie more and more seeks salvation in fascism, with the object of taking exceptional predatory measures against the working people, preparing for an imperialist war of plunder, attacking the Soviet Union, enslaving and partitioning China, and by all these means preventing revolution. The imperialist circles are trying to shift the whole burden of the crisis onto the shoulders of the working people. That is why they need fascism. They are trying to solve the problem of markets by enslaving the weak nations, by intensifying colonial oppression and repartitioning the world anew by means of war. That is why they need fascism.

Fascism is not [only] squads of the SA or the Blackshirts marching on the streets. Fascism is officials, in uniforms ordering what is capitalist supposed to do with "his" factory, and how he should father "his" children and occasionally - how many Jews (or anti-Semites) should be sent to Auschwitz.

No, fascism is not a power standing above class, nor government of the petty bourgeoisie or the lumpen-proletariat over finance capital. Fascism is the power of finance capital itself.

What was fascism in Italy, in Germany? The exaltation of racial prejudices. Instead of fighting racial prejudice, which is what a revolution does, fascism exalts prejudice and turns it into hatred.

To what extent may we expect to have the economics of fascism without its politics?