Socialism of the German pattern
Socialism of the German pattern is an economic system completely planned and controlled by the government while retaining many of the labels and nominal forms of capitalism. A form of socialism which retains the appearance and terminology of the market economy while in fact private ownership of the means of production, real buying and selling, and real market prices, wages and interest rates no longer exist because all production activities and product allocations are directed and controlled by government orders which all participants are bound to obey unconditionally. This form of socialism was put into operation in Germany during the Nazi regime (1933-1945) but collapsed with the German defeat in World War II. The German term is Zwangswirtschaft, a compulsory economic system.
- ↑ Percy L. Greaves, Jr. "Mises Made Easier ", 1974. Referenced 2014-07-13.