How Government Officials are Using Bank Regulations to Shutdown Industries

Lew Rockwell, in his important book, Fascism versus Capitalism, argues that the United States rather than having a capitalist economy, at its core has a fascist economy:

The state, for the fascist, is the instrument by which the people’s common destiny is realized, and which the potential for greatness is to be found. Individual rights, and the individual himself, are strictly subordinate to the state’s great and glorious goals for the nation.

In Rockwell’s view, via fascism, although the means of production are technically owned by the private sector, the rules are set for much of the economy by the government:

The reality of bureaucratic administration has been with us at least since the New Deal, which was modeled on the planning bureaucracy that lived in World War I. The planned economy — whether in Mussolini’s time or ours — requires bureaucracy. Bureaucracy is the heart, lungs, and veins of the planning state. And yet to regulate an economy as thoroughly as this one is today is to kill prosperity with a billion tiny cuts.

More