Analysis of information sources in references of the Wikipedia article "Economics of fascism" in English language version.
What fascist movements had in common was the aim of a new functional relationship for the social and economic systems, eliminating the autonomy (or, in some proposals, the existence) of large-scale capitalism and major industry, and creating a new communal or reciprocal productive relationship through new priorities, ideals, and extensive government control and regulation.
Contemporary economic analyses of privatization have so far overlooked the Fascist privatization policy in 1922-1925 Italy, which may well be the earliest case of large-scale privatization in a capitalist economy.
The Fascist government was alone in transferring State ownership and services to private firms in the 1920s; no other country in the world would engage in such a policy until Nazi Germany did so between 1934 and 1937.
Mussolini's government privatized the State monopoly on match sale, and suppressed the state monopoly of life insurance; it sold most State-owned telephone networks and services to private firms, reprivatized the metal machinery firm Ansaldo and awarded concessions for tolled motorways to private firms.
[T]he last governments of the Weimar Republic took over firms in diverse sectors. Later, the Nazi regime transferred public ownership and public services to the private sector.
Privatization was an important policy in Italy in 1922-1925. The Fascist government was alone in transferring State ownership and services to private firms in the 1920s; no other country in the world would engage in such a policy until Nazi Germany did so between 1934 and 1937.
Many scholars have pointed out that the Great Depression spurred State ownership in Western capitalist countries (e.g. Aharoni, 1986, pp. 72 and ff.; Clifton, Comín and Díaz Fuentes, 2003, p. 16; Megginson, 2005, pp. 9-10), and Germany was no exception. But Germany was alone in developing a policy of privatization in the 1930s.
[P]rivatization was used mainly as a political tool to build confidence among industrialists and to increase support for the government and the Partito Nazionale Fascista. Privatization also contributed to balancing the budget, which was the core objective of Fascist economic policy in its first phase.
The Nazi government may have used privatization as a tool to improve its relationship with big industrialists and to increase support among this group for its policies. Privatization was also likely used to foster more widespread political support for the party. Finally, financial motivations played a central role in Nazi privatization. The proceeds from privatization in 1934-37 had relevant fiscal significance: No less than 1.37 per cent of total fiscal revenues were obtained from selling shares in public firms.
Contemporary economic analyses of privatization have so far overlooked the Fascist privatization policy in 1922-1925 Italy, which may well be the earliest case of large-scale privatization in a capitalist economy.
[T]he Nazi regime transferred public ownership and public services to the private sector. In doing so, they went against the mainstream trends in the Western capitalist countries, none of which systematically reprivatized firms during the 1930s.
Most of the enterprises transferred to the private sector at the Federal level had come into public hands in response to the economic consequences of the Great Depression.
In addition, the delivery of some public services that were produced by government prior to the 1930s, especially social and labor-related services, was transferred to the private sector, mainly to organizations within the party.
It is likely that privatization – as a policy favorable to private property – was used as a tool for fostering the alliance between Nazi government and industrialists.
Nazi economic policy implied a sharp rise in public expenditure. The intensity of this increase was unique among the Western capitalist countries in the pre-war period. Consistent with this, financial policy was subject to strong restrictions, and exceptional methods were devised to obtain resources. In fact, Schacht was considered more a financial technician than an economist (Thyssen, 1941, p. 138). Privatization was one of the exceptional methods used.
