Stuart Chase - Free Enterprise Into 'X'

Free Enterprise Into 'X'

On pages 95 and 96 of The Road We Are Traveling, under the heading of "Free Enterprise into 'X'", Chase listed 18 characteristics of political economy that he had observed among Russia, Germany, Italy, Japan, and Spain between 1913 and 1942. Chase labeled this phenomenon "... something called 'X'". Characteristics include the following:

1. A strong, centralized government.
2. An executive arm growing at the expense of the legislative and judicial arms.
3. The control of banking, credit and security exchanges by the government.
4. The underwriting of employment by the government, either through armaments or public works.
5. The underwriting of social security by the government – old-age pensions, mothers’ pensions, unemployment insurance, and the like.
6. The underwriting of food, housing, and medical care, by the government.
7. The use of deficit spending to finance these underwritings.
8. The abandonment of gold in favor of managed currencies.
9. The control of foreign trade by the government.
10. The control of natural resources.
11. The control of energy sources.
12. The control of transportation.
13. The control of agricultural production.
14. The control of labor organizations.
15. The enlistment of young men and women in youth corps devoted to health, discipline,community service and ideologies consistent with those of the authorities.
16. Heavy taxation, with special emphasis on the estates and incomes of the rich.
17. Control of industry without ownership.
18. State control of communications and propaganda.