Res and Tim, you’ve got a point, but the long term implications of fascism are fundamentally socialistic. When a government forces a certain percentage of a market to conform to their “idea” of what a product and pricing should look like, even though the rest of the market is supposedly voluntary, it is only a matter of time before something voluntary becomes mandatory. Smaller, non-conforming businesses are bankrupted or regulated out of business. Large businesses, initially attracted by guaranteed profits are less able to innovate and the path to investor liquidity becomes challenged.

However, as anyone who has studied corporate governance quickly realizes that equity ownership is but a small part of ownership. Control of management, stacking the board, prodding unions to strike, blocking rights with regard to sale to foreigners and others, onerous regulations, approval of the operating plan, etc. can very quickly turn fascism into socialism. The government doesn’t have to own businesses to “own” them.