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Global capitalism faces an organic crisis involving a structural dimension, that of overaccumulation and a political dimension of legitimacy or hegemony that is approaching a general crisis of capitalist rule. Fascism, whether in 20th-century or 21st-century forms, is a particular response to capitalist crisis. Trumpism in the US, BREXIT in the UK, the increasing influence of neo-fascist and authoritarian parties and movements throughout Europe and around the world, represent far-right responses to the crisis of global capitalism. There are similarities but also important differences between fascist projects of the 20th and 21st centuries. The former involved the fusion of reactionary political power with national capital, whereas the latter involves the fusion of transnational capital with reactionary and repressive political power — an expression of the dictatorship of transnational capital. A fightback against the global police state and 21st-century fascism must involve broad anti-fascist alliances led by popular and working-class forces.

Global Capitalist Crisis and Twenty-First Century Fascism: Beyond the Trump Hype