Fascism - Wikipedia, the free encyclopedia

Fascism - Wikipedia, the free encyclopedia

Nietzsche, d'Annunzio, and Mussolini all held contempt for Christianity, the bourgeoisie, democracy, and reformist politics

“	Fascism is capitalism in decay.	”
— Vladimir Lenin

Fascists opposed the laissez-faire economic policies that were dominant in the era prior to the Great Depression.^[261] After the Great Depression began, many people from across the political spectrum blamed laissez-faire capitalism, and fascists promoted their ideology as a "third way" between capitalism and communism.

Wow.

Some contemporary economists do not consider supply-side economics a tenable economic theory, with Alan Blinder calling it an "ill-fated" and perhaps "silly" school on the pages of a 2006 textbook.^[18] Greg Mankiw, former chairman of President George W. Bush's Council of Economic Advisors, offered similarly sharp criticism of the school in the early editions of his introductory economics textbook.^[19] In a 1992 article for the Harvard International Review, James Tobin wrote, "[The] idea that tax cuts would actually increase revenues turned out to deserve the ridicule…"^[20] While few modern economists claim that tax cuts will completely pay for themselves, some empirical and theoretical research suggests that tax cuts do help to pay for themselves through increased economic growth, though the end result, even conservative economists contend, will be a significant reduction in revenues.^[4] The Reagan administration was the first to implement supply-side policies and call them that. Some maintain that they failed to deliver the promised benefits.^[21]

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The extreme promises of supply-side economics did not materialize. President Reagan argued that because of the effect depicted in the Laffer curve, the government could maintain expenditures, cut tax rates, and balance the budget. This was not the case. Government revenues fell sharply from levels that would have been realized without the tax cuts. - Karl Case & Ray Fair, Principles of Economics (2007), p. 695.[21]

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