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Socialism is the exercise of the powers of ownership collectively, usually by the state. Under fascism, ostensible TITLE remains in private hands but the state dictates from whom one can buy, to whom one can sell, in what quantities, at what price, paying wages at what level (and the Nazis enslaved a workforce as well) and even whether dividends could be paid and at what level. While companies remained technically private, ALL economic decisions were undertaken by the state, so fascism is, by definition, a form of socialism. Mises pointed this out no later than the 1940s and the fact is now rather widely accepted.
Given what we know in 2012, saying that capitalism will make a society richer than socialism should be about as controversial as saying the earth is round, not flat. Yet, a recent Gallup poll shows that more liberals have a positive view of socialism than capitalism. This is only possible because there are so many perverse incentives that drive the promotion of socialism. If you're a politician, socialism puts power in your hands while capitalism takes it away. If you want to use the government to control people's lives, socialism is a wonderful vehicle to do just that while...
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