Fascism: Why Billionaires and Corporate Officials Support the Democratic Party

Writes Richard Salsman on why “Biden’s Disdain for Shareholders is Fascistic“:

…“shareholder capitalism” is redundant, and “stakeholder capitalism” is oxymoronic. The former is genuine capitalism: private ownership (and control) of the means of production (and its output, too). The latter is fascism: private ownership but public control, imposed by non-owners. Socialism, of course, is public (state) ownership and public control of the means of production. Capitalism entails and promotes mutually beneficial contractual responsibility; fascism destroys that, by brutally severing ownership and control.

Which of these political-economic systems does Biden and his allies (Harris, Sanders, Warren, AOC) denounce, and which do they extoll? Is it not obvious? We know. They won’t dare use the word fascism, of course – just its definition. They prefer to reclassify fascism as a form of capitalism (“stakeholder” capitalism) so as to get away with imposing what is radical but not new. Many anti-capitalist academics and journalists, likewise sympathetic to fascism, euphemistically call it ‘corporatism’ or ‘cronyism,’ and pretend it’s a brand of capitalism. Not so. ‘Big money’ controls politics only to the extent politics controls money-making, and for decades left-Democrats have pushed for an ever-greater government subsidization and regulation of business. They encourage and reward corporate cronies – and punish small businesses. This is why most billionaires and major corporate officials support the Democrat Party.

Photo by Gage Skidmore