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Socialism sought totalitarian control of a society’s economic processes through direct state operation of the means of production, fascism sought that control indirectly, through domination of nominally private owners.

— Sheldon Richman

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As an economic system, fascism is socialism with a capitalist veneer.

Where socialism abolished money and prices, fascism controlled the monetary system and set all prices and wages politically.

Where socialism abolished all market relations outright, fascism left the appearance of market relations while planning all economic activities.

Where socialism nationalized property explicitly, fascism did so implicitly, by requiring owners to use their property in the “national interest”—that is, as the autocratic authority conceived it.

Fascism embodied corporatism, in which political representation was based on trade and industry rather than on geography. In this, fascism revealed its roots in syndicalism, a form of socialism originating on the left.

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Quote text and notes from Wikiquote: Sheldon Richman (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.