Heroic capitalism or dynamic capitalism was a concept proposed by

Benito Mussolini Benito Amilcare Andrea Mussolini (; 29 July 188328 April 1945) was an Italian politician and journalist who founded and led the National Fascist Party. He was Prime Minister of Italy from the March on Rome in 1922 until his deposition in 194 ...

in a speech given in November 1933 to the

National Council of Corporations The National Council of Corporations (''Consiglio nazionale delle corporazioni'') was a constitutional organ of the Kingdom of Italy between 1930 and 1943. History It was established by royal decrees number 1131 of 2 July 1926 and 1347 of 14 Jul ...

of the

Kingdom of Italy The Kingdom of Italy ( it, Regno d'Italia) was a state that existed from 1861, when Victor Emmanuel II of Kingdom of Sardinia, Sardinia was proclamation of the Kingdom of Italy, proclaimed King of Italy, until 1946, when civil discontent led to ...

.Falasca-Zamponi, Simonetta. ''Fascist Spectacle: The Aesthetics of Power in Mussolini's Italy''. p. 136.Salvemini, Gaetano. ''Under the Axe of Fascism''. 2006. p. 132-133. The speech was given in the context of the ongoing

Great Depression The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagio ...

, and Mussolini attempted to explain the economic crisis in the world at the time by arguing that

capitalism Capitalism is an economic system based on the private ownership of the means of production and their operation for Profit (economics), profit. Central characteristics of capitalism include capital accumulation, competitive markets, pric ...

had gradually degenerated from its origins: first there had been dynamic or heroic capitalism (1830–1870), followed by static capitalism (1870–1914), in turn followed by the final form of decadent capitalism, known also as

supercapitalism Supercapitalism was a concept introduced by Benito Mussolini in a speech given in November 1933 to the National Council of Corporations of the Kingdom of Italy.Falasca-Zamponi, Simonetta. ''Fascist Spectacle: The Aesthetics of Power in Mussolini ...

, which began in 1914.Mussolini, Benito. ''Four Speeches on the Corporate State: With an Appendix Including the Labour Charter, the Text of Laws on Syndical and Corporate Organisations and Explanatory Notes''. Laboremus, 1935. p. 16 Although Mussolini did not advocate a return to heroic capitalism, he praised it as a golden age of private initiative and free competition, reflecting Italian Fascism's admiration for "capitalist production, captains of industries, modern entrepreneurs."Falasca-Zamponi, Simonetta. ''Fascist Spectacle: The Aesthetics of Power in Mussolini's Italy.'' p. 137. In principle, the Italian bourgeoisie could count on Mussolini's support as long as it remained heroic. However, Mussolini believed that the degeneration of capitalism away from its heroic stage was an inevitable result of economic

individualism Individualism is the moral stance, political philosophy, ideology and social outlook that emphasizes the intrinsic worth of the individual. Individualists promote the exercise of one's goals and desires and to value independence and self-reli ...

, and therefore argued that the supervision of the Fascist state was essential to enable private enterprise to maintain its heroic character.Salvemini, Gaetano. ''Under the Axe of Fascism''. 2006. p. 134. Italian Fascism would continue to support private property and private enterprise as long as "it does not confine itself to enjoying wealth, but develops it, increases it, multiplies it".

References

{{fascism Capitalism Economics of fascism Right-wing anti-capitalism