Lemon

Yet another example of crony capitalism rolls off the assembly line soon, in the form of the GM Volt — an electric hybrid that’s absurdly overpriced and woefully underperforms.

It’s set to sell for $41,000, and travels an underwhelming 40 miles before needing a charge (340 miles when the gas engine is invoked, defeating the basic purpose). It seats four, uncomfortably (thanks to the battery pack down the middle).

But there’s more to the story than just a poorly designed, expensive car subsidized with taxpayer money.....

One of the chief characteristics of fascism is this sort of public-private “partnership.” A business is still nominally private, but its fortunes are controlled lock, stock, and executive compensation barrel by the government. In essence, under that arrangement, there’s no important difference between public and private; executives become civil servants in disguise. And that’s a fundamental shift — just the sort Obama had in mind during the campaign — from the normal way of doing business even in mixed-economy America.

Onerous regulations that distort market signals are impractical. Putting a heavy thumb on the scale in favor of unions is wrong. Both lead to bad business outcomes and large-scale injustices; both violate the right of voluntary trade and hobble efficiency. But unfair and costly as those are, they don’t amount to a wholesale blending of government and private enterprise. That is what the semi-nationalization of the auto industry has done, and the Volt is how badly that scheme always turns out.

Jeff Perren at Pajamas Media.  Read the whole thing.  Fascism is not a new concept, and it's often hailed by the ruling class.