Comprehension
Fascist economics places itself in between free market capitalism and communism. It criticizes the former for prioritizing profits over collective goals, for promoting speculation, financial wizardry that is similar to usury. It agreed to some degree with communists that the capitalist class exploited the labour force and was insensitive to poor working conditions but disagreed on the solution.
While communists prescribed a proletariat takeover of the means of production followed by a dictatorship of the proletariat as the panacea to the crisis of capitalism, fascism would choose instead to resolve class conflicts between labour and capital through state arbitration and corporate control over the economy. Corporatism is the theory and practice of organizing society into 'corporations' subordinate to the state. These corporations would serve as organs of political consultations and take responsibility, to a large extent, for persons and activities within their jurisdiction. It differed from communism since it rejected classless egalitarianism.
It can be described as a modern analogue of feudal guild societies. Thus, corporatism served to retain the social order and hierarchies of feudalism while infusing it with modern industrial methods more conducive for military competition and arms races.
Another aspect that fascism had in common with feudal economics is its emphasis on usury laws. Both considered charging interest on loans as being exploitative and immoral. This reinforced a certain worldview which saw tangible sectors such as agriculture and industry as value creating and finance as a sector that rested on tricks and manipulation.
Fascist economics agreed with communists on the following:
(A) Capitalists are sensitive to the poor working conditions of the labour force.
(B) Capitalists promote speculation.
(C) Capitalists prioritize profits over collective goals.
(D) Capitalists indulge in financial wizardly.
Choose the correct answer from the options given below :
