How the Left fell for Mussolini: ‘America’s elite has adopted the fascist dream of a corporate oligarchy’


By: - Climate DepotJuly 6, 2021 9:25 AM

https://unherd.com/2021/07/how-the-democrats-fell-for-mussolini/

By Joel Kotkin – Kotkin is the Presidential Fellow in Urban Futures at Chapman University and executive director of the Urban Reform Institute. His new book, The Coming of Neo-Feudalism, is now out from Encounter.

Excerpts: Mussolini’s idea of an economy controlled from above, with generous benefits but dominated by large business interests, is gradually supplanting the old liberal capitalist model. In the West, for example, the “Great Reset,” introduced by the World Economic Forum’s Klaus Schwab, proposes an expanded welfare state and an economy that transcends the market for the greater goal of serving racial and gender “equity”, as well as saving the planet.

Wherever it appears, whether in the early 20th century or today, fascism — in its corporate sense — relies on concentrated economic power to achieve its essential and ideological goals. …

 

Capitalist countries have historically resisted such concentrations of power, but this process seems inexorable after a pandemic which devastated small businesses yet saw the ultra-rich grow richer and the largest firms record eye-watering profits. A handful of giant tech corporations now account for nearly 40% of the value of the Standard and Poor Index, a level of concentration unprecedented in modern history. …

 

Today’s oligarchs are particularly keen on the progressive non-profit sector, which provides important support for their political and social advocacy — a means for them to make politically correct statements about climate change, gender and race, while still obtaining enormous profit margins and unprecedented wealth. …

 

But whereas the old fascism sought greater prosperity, its new form, at least in the West, supports only an expanded welfare state that keeps the beleaguered middle and working classes both quiescent and stripped of aspiration. Worthies such as former Bank of Canada and Bank of England chief Mark Carney even embrace “de-growth,” a conscious slowing of the economy and embrace of declining living standards.

Indeed, the widely hailed Club of Rome report in 1972 — “The Limits to Growth” — was financed not by green activists but by the Agnelli family from Fiat, once a linchpin of Mussolini’s original corporate state.2 The Report predicted massive shortages of natural resources, slower economic growth, less material consumption and ultimately less social mobility.

But then there are many hypocrisies at the heart of today’s incarnation of Mussolini-style fascism. Our new elites, for example, see no contradiction in supporting claims of “systemic racism” and “social justice” at home, while cooperating with Chinese authorities who abuse basic human rights in Hong Kong or to impose forced labour in Xinjiang. Boldly progressive firms like Airbnb have no problems sharing customer data with China’s security state; nor does Apple show compunction in relying on Uighur labour to build their products. …

As of today, the consolidation of oligarchic power is supported by massive lobbying operations and dispersals of cash, including to some Right-wing libertarians, who doggedly justify censorship and oligopoly on private property grounds.