What is centrally planned capitalism?

Answer 1

When most people hear the word ``fascism,'' they naturally think of its ugly racism and anti-Semitism as practiced by the totalitarian regimes of Mussolini and Hitler. But there was also an economic policy component of fascism, known in Europe during the 1920s and '30s as ``corporatism,'' that was an essential ingredient of economic totalitarianism as practiced by Mussolini and Hitler. So-called corporatism was adopted in Italy and Germany during the l930s and was held up as a ``model'' by quite a few intellectuals and policy makers in the United States and Europe. A version of economic fascism was in fact adopted in the United States in the 1930s and survives to this day. In the United States these policies were not called ``fascism'' but ``planned capitalism.'' The word fascism may no longer be politically acceptable, but its synonym, ``industrial policy,'' is as popular as ever.

Answer 2

A centrally planned economy is one in which the federal government owns, operates, and manages all production facilities.

Answer 3

Capitalism where the ruling class attempt to plan the economy so that it runs entirely in their interests.