Authoritarian capitalism

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"Authoritarian capitalism" is a quasi-liberal and idealist term to defend capitalism. Much like the concept of "authoritarianism", it is used as a pretext to defend capitalism as a democratic system and a better alternative to socialism.

So, according to the liberal definition, authoritarian capitalism translates to fascism. However, as under capitalism, a small minority controls the wealth and has concentrated the political power into its hands, capitalism in inherently "authoritarian" and represses the working class.