Newsweek magazine, which has given us many of the most damaging deceptions about America in recent years (remember the “Koran-Down-the-Toilet” hoax?), now weighs in with a pretentious and embarrassingly ignorant cover story, “We Are All Socialists Now.” To be sure, the basic theme–that the huge “stimulus” and the big big big TARP is leading once-capitalist America down the dangerous road to socialism–is not limited to the skinny weekly.
There’s a element of truth to the basic theme (although not to the headline): the state is getting more and more deeply involved in business, even taking controlling interests in some private companies. And the state is even trying to “make policy” for private companies they do not control, but merely “help” with “infusions of capital,” as in the recent call for salary caps for certain CEOs. So state power is growing at the expense of corporations.
But that’s not socialism. Socialism rests on a firm theoretical bedrock: the abolition of private property. I haven’t heard anyone this side of Barney Frank calling for any such thing. What is happening now–and Newsweek is honest enough to say so down in the body of the article–is an expansion of the state’s role, an increase in public/private joint ventures and partnerships, and much more state regulation of business. Yes, it’s very “European,” and some of the Europeans even call it “social democracy,” but it isn’t.
It’s fascism. Nobody calls it by its proper name.
In both countries, however, its most durable consequence was the expansion of the ability of the state to give orders to more and more citizens, in more and more corners of their lives.