Read the following passage and answer the questions that follow

Fascist economics places itself in between free market capitalism and communism. It criticizes the former for prioritizing profits over collective goals, for promoting speculation, financial wizardry that is similar to usury. It agreed to some degree with communists that the capitalist class exploited the labor force and was insensitive to poor working conditions but disagreed on the solution. While communists prescribed a proletariat takeover of the means of production followed by a dictatorship of the proletariat as the panacea to the crisis of capitalism, fascism would choose instead to resolve class conflicts between labor and capital through state arbitration and corporate control over the economy. Corporatism is the theory and practice of organizing society into 'corporations' subordinate to the state. These corporations would serve as organs of political consultations and take responsibility, to a large extent, for persons and activities within their jurisdiction. It differed from communism since it rejected classless egalitarianism. It can be described as a modern analogue of feudal guild societies. Thus, corporatism served to retain the social order and hierarchies of feudalism while infusing it with modern industrial methods more conducive for military competition and arms races.

Another aspect that fascism had in common with feudal economics is its emphasis on usury laws. Both considered charging interest on loans as being exploitative and immoral. This reinforced a certain worldview which saw tangible sectors such as agriculture and industry as value creating and finance as a sector that rested on tricks and manipulation.


(1)  Fascism:  

(A) Considered charging interest as immoral  

(B) Valued agriculture and Industry  

(C) Rejected hierarchies of feudalism 

(D) Believed in corporatism  

Choose the correct answer from the options  given below  

(a) (A) and (D) Only  

(b) (A), (B) and (C) Only  

(c) (A), (C) and (D) Only  

(d) (A), (B), and (D) Only



(2) Classless egalitarianism policy was followed by:  

(a) Feudalism 

(b) Capitalism  

(c) Communism 

(d) Fascism


(3) Fascist economics is based on:  

(a) Communism  

(b) Capitalism 

(c) A Mix of communism and capitalism  

(d) Feudalism


(4) Given below are two statements:  Statement 

(I): The communist solution to  capitalism was the takeover of the means of  production by the proletariat  Statement 

(II): The fascist solution to  capitalism was corporatism  In the light of the above statements, choose the  most appropriate answer from the options  given below:  

(a) Both Statement I and Statement II are correct 

(b) Both Statement I and Statement II is incorrect  

(c) Statement I is correct but Statement II is  incorrect  

(d) Statement I is incorrect but Statement II is  correct


(5) Fascist economics agreed with communists on  the following:  

(A) Capitalists are sensitive to the poor  working conditions of the labour force.  

(B) Capitalists promote speculation  

(C) Capitalists prioritize profits over collective  goals  

(D) Capitalists indulge in financial wizardly  

Choose the correct answer from the options  given below  

(a) (A), (C) and (D) Only  

(b) (B) and (C) Only  

(c) (B), (C) and (D) Only  

(d) (A), (B) and (C) Only


ANSWERS

 1 - d

 2 - c

 3 - c

 4 - a

 5 - c