When the federal government bailed out auto makers last fall, did anyone think that by March the President of the United States would ask the CEO of General Motors to step down? This comes after President Obama told bankers on Sunday that bonuses are “not acceptable.”
I know a lot people don’t like calling our current mixed economy “socialism” or “fascism.” (I’ve noticed an increase in the word “statism” on the right. Before this year the word was rarely used, except by Objectivists and other free market “extremists.” My Microsoft Word program still thinks the word is a typo.)
I have a few question. If the state is firing CEO’s and telling businesses how much in bonuses they can get, how is this not fascism? At what point does a mixed economy that is heading toward fascism actually cross the line to fascism?
[UPDATE (Bill Brown): Megan McArdle entreats us to avoid using the “f-word” and David Henderson disagrees. Commenter L-C has the best take on this subject: “Do those who advance socialism and fascism deserve to dodge those labels all the way up until they’ve reached this goal?”]