Fascism

Strict regulation and control of the economy by the regime through some form of corporatist economic planning in which the legal forms of private ownership of industry are nominally preserved but in which both workers and capitalists are obliged to submit their plans and objectives to the most detailed state regulation and extensive wage and price controls, which are designed to insure the priority of the political leadership's objectives over the private economic interests of the citizenry. Therefore under fascism most of the more important markets are allowed to operate only in a non-competitive, cartelized, and governmentally "rigged" fashion.