Harvard Business Professor: New Deal Has Same Economic Basis As Nazism and Fascism

Flashback 1940. The Harvard Crimson reports:

Norman S. B. Gras, Isidor Straus Professor of Business History, indicted the New Deal as an example of "national capitalism" similar to that in Fascist Italy and Nazi Germany in an article published today in the Harvard Business Review.

There's more:

The newest phase of business development, national capitalism is "a system of business based upon private enterprise publicly controlled." Representing an entirely new alignment of business groups, it "keeps business at a low state of performance" through increasing the rigidities of the economic system. "Although rigidity is sometimes favorable to the purposes of business," he said, "on the whole it is distinctly unfavorable.

Imagine that.