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Fascism is a reactionary ideology based on class collaboration (the opposite of the class struggle). In practice, however, the fascists promoted policies that caused even more exploitation of the working class, allowing the “free market” to take over every aspect of society. So much so that The Economist magazine introduced the term privatization, unseen in political discourse at the time, to describe Nazi Germany's economic policies.
Throughout history, the most important trait of fascism, besides the religious defense of unrestrained free market, is the fervent anticommunism, which has lead to brutal consequences, such as the massive genocide of 26 million Soviet citizens during World War II.
Mechanics of fascism
Fascism is the result of the contradictions of capitalism heightening to their highest point, ultimately leading it into crisis.
In such a state, where the failures of capitalism become plain to see and the proletariat must endure them, fascism becomes the armed wing of capitalism so as to restore capitalism, or perish. Fascism is a bourgeois ideology, and it turns to class collaboration to restore order: in such a system, every individual is expected to have their place and be content in it. Business owners sign huge deals with the government, while workers are expected to work more for less.
Indeed, while fascism promises the restoration of all that made the country great and glorious, it delivers instead huge hardships on the workers, preferring to enrich its bourgeoisie as well as its political class (who are often one and the same).
A minority group is designated as the enemy so as to appeal to bourgeois ideals of race and tradition, while allowing for slave (or near-slave) labour from the affected group.
As fascism requires very lavish results (or the illusions of results) to keep its legitimacy among the people, it must reach very high economic growth in a short time. This is usually done with unsound economic policies (for example the MEFO bills in Nazi Germany) that work in the short-term but will heavily backfire in the long-term. As such, fascism will eventually turn to war and conquest so as to pillage and enslave, and thus restore somewhat stable economic growth.
Because of this, and because of the always-present contradictions of capitalism, fascism is sometimes considered a death cult -- that is, an ideology that will eventually lead its adherents to their death.
In the materialist analysis, it is understood that people turn towards fascism as they feel unfit in society and are scared of the future (no doubt helped by propaganda efforts). We understand that socialism, specifically Marxism-Leninism, is the cure to preventing people from being sucked in by fascism.
In effect, fascism will exist as long as capitalism does, because capitalism is full of contradictions that it cannot fix (the class struggle, to name just one, since capitalism requires class society). The only way to destroy fascism as an ideology is to move past capitalism.
Social fascism
Stalin first described social fascism in Concerning the International Situation. According to him, social democrats objectively form the moderate wing of fascism, as they prevent people from moving further left towards communism while advocating for capitalism. Since fascism will exist as long as capitalism does, social democrats are in effect enabling fascists (and indeed historically, often siding with them over actual socialists).
Fascist countries
Past
Nazi Germany
Nazi Germany, officially the Third Reich (Third Empire), was beaten into dissolution by the Soviet Union after the Battle of Berlin in May 1945.
Present
Online fascism
Fascists in the 21st century have taken to propagandize over the Internet, usually looking for marginalized teens who don't fit in with their peers. It is known that they have organised groups working towards that goal on several websites and even video games.