Changes

The dream of a cooperative commonwealth in which all would share equally in the prosperity created by an economic system owned by the people was the vision of [[Socialist]]s.  This in theory would end [[poverty]], [[ignorance]] and [[crises]].  The idea was to [[nationalize]] banks, railroads, all means of transport, mines, and a few basic industries, but leave some factories, stores, farms, entertainment industries, etc., in the hands of private owners. The government would assume responsibility for making the economy work, for the well-being of all the citizens, their protection from the hazards of life, poverty, sickness, and old age. To make the whole economy work continuously without occasional [[Great Depression#Boom or Bust Cycles|boom-bust]] cycles, the government would create [[economic planning]] boards which would continuously study and observe the functioning of the economic system and make plans covering production, prices, distribution, financing, profits, [[wages]], hours, etc. Thus there would be Planned Capitalism, with the State responsible for the planning and for ensuring the carrying out of its plans through great government bureaus armed with the necessary powers to enforce compliance.

The dream of a cooperative commonwealth in which all would share equally in the prosperity created by an economic system owned by the people was the vision of [[Socialist]]s.  This in theory would end [[poverty]], [[ignorance]] and [[crises]].  The idea was to [[nationalize]] banks, railroads, all means of transport, mines, and a few basic industries, but leave some factories, stores, farms, entertainment industries, etc., in the hands of private owners. The government would assume responsibility for making the economy work, for the well-being of all the citizens, their protection from the hazards of life, poverty, sickness, and old age. To make the whole economy work continuously without occasional [[Great Depression#Boom or Bust Cycles|boom-bust]] cycles, the government would create [[economic planning]] boards which would continuously study and observe the functioning of the economic system and make plans covering production, prices, distribution, financing, profits, [[wages]], hours, etc. Thus there would be Planned Capitalism, with the State responsible for the planning and for ensuring the carrying out of its plans through great government bureaus armed with the necessary powers to enforce compliance.

In the 1920s [[Benito Mussolini]] had adopted the Planned Capitalist State and gave it the name "[[fascism]]". [[Adolf Hitler]] adopted the same idea and called it [[National Socialism]]. Mussolini and Hitler both realized that a system which imposes a vast complex of decrees upon a people while subjecting them to confiscatory [[tax]]es to support the immense activities of the government cannot be operated except by an [[Absolutism|absolute]] government that has the power to enforce compliance. Prior to [[World War II]], this type of system had spread all over Europe. For nearly 70 years all the countries in Europe, with Germany in the lead, had been experimenting with the idea of the [[welfare state]], the State which attempts to provide its people with jobs and protection from all the hazards of life.  

In the 1920s [[Benito Mussolini]] had adopted the Planned Capitalist State and gave it the name "[[fascism]]". [[Adolf Hitler]] adopted the same idea and called it [[National Socialism]]. Mussolini and Hitler both realized that a system which imposes a vast complex of decrees upon a people while subjecting them to confiscatory [[tax]]es to support the immense activities of the government cannot be operated except by an [[Absolutism|absolute]] government that has the power to enforce compliance. Prior to [[World War II]], this type of system had spread all over Europe. For nearly 70 years all the countries in Europe, with Germany in the lead, had been experimenting with the idea of the [[welfare state]], the State which attempts to provide its people with jobs and protection from all the hazards of life.