Long before the rise of fascism, competitive capitalism was replaced in each capitalist nation by monopoly capitalism. The markets were controlled by… - Paul Mattick

People love today to speak disdainfully about the liberalistic economy,' [Kautsky] wrote in his last work; 'however, the theories founded by Quesnay, Adam Smith and Ricardo are not at all obsolete. In their essentials Marxhad accepted their theories and developed them further, and he has never denied that the liberal freedom of commodity production constituted the best basis for its development.

Thus, to mention just a few facts, not the social democracy but Hitler fulfilled the long desire of the socialists, the Anschluss of Austria; not social democracy but fascism established the wished — for state control of industry and banking; not social democracy but Hitler declared the first of May a legal holiday. A careful analysis of what the socialists actually wanted to do and never did, compared with actual policies since 1933, will reveal to any objective observer that Hitler realised no more than the programme of social democracy, but without the socialists.

There is no longer any need to point to the many ‘misdeeds’ of Bolshevism in Germany and in the world at large. In theory and in practice the Stalinist regime declares itself a capitalistic, imperialistic power, opposing not only the proletarian revolution, but even the fascist reforms of capitalism. And it actually does favour the maintenance of bourgeois democracy in order to utilise more fully its own fascistic structure. Just as Germany was very little interested in spreading fascism over her borders and the borders of her allies since she had no intention of strengthening her imperialistic competitors, so Russia concerns herself with safeguarding democracy everywhere save within her own territory. Her friendship with bourgeois-democracy is a true friendship; fascism is no article for export, for it ceases to be an advantage as soon as it is generalised. Despite the Stalin-Hitler pact, there are no greater ‘anti-fascists’ than the Bolsheviks on behalf of their own native fascism. Only so far as their imperialistic expansion, if any, will reach, will they be guilty of consciously supporting the general fascistic trend.