The Economics of Fascism and Totalitarianism

These flashcards cover key vocabulary and concepts discussed in the lecture regarding fascism, totalitarianism, and economic systems.

Command Economy

An economic system where the government controls production, allocation, and prices rather than the free market.

Totalitarianism

A political system in which the government recognizes no limits to its authority and seeks to regulate every aspect of public and private life.

Fascism

A far-right, autocratic political system characterized by dictatorial power, forcible suppression of opposition, and strong regimentation of society and the economy.

Benthamite Society

A society in which the state's role is limited to maximizing individual welfare and addressing public goods.

Collectivization

An economic policy aimed at consolidating individual landholdings and labor into collective farms.

NEP (New Economic Policy)

A policy introduced by Lenin in 1921 to allow a degree of private ownership and market flexibility to revive the economy after the Civil War.

Acerbo Law

A 1923 Italian electoral law that granted a party with a plurality of votes a supermajority in parliament.

Kondratieff Wave

A long-term wave in economic history associated with cycles of boom and bust in capitalist economies.

Historical Compromise

An agreement between labor and business to ensure stability in wages and economic growth in post-war Europe.

Stakhanovite Movement

A Soviet campaign to inspire workers to exceed production targets, named after the miner Alexey Stakhanov.