Capitalism ruled by the totalitarian state. Unlike in real socialism, capital is usually not owned by the government, but capitalists are under constant control and under threat by the ruling fascist machinery.
See national socialism
NOTABLE & QUOTABLE
“All within the state, nothing outside the state, nothing against the state.”
DEVIL'S QUESTION: Is fascism right-wing or left-wing?
This is subject of endless discussions on the internet. First of all, there's a difference between fascism and national socialism. The difference is not only superficial: fascism originally didn't emerge as an anti-Semitic movement, for instance.
Fascism was decidedly totalitarian doctrine, but there were important differences. Mussolini's version of fascism bore certain characteristics of the political left: government involvement with the economy on many levels including agricultural policies, housing policies, public works, price controls, and the all-pervasive collectivism.
The Spanish version of fascism implemented by the late dictator Francisco Franco (in power from 1939 to his death in 1975) was more conservative than Italian fascism. Franco, devout Roman Catholic and Spanish patriot himself, put emphasis on the basic pillars of the state power, particularly the Army, the police and the church. He pursued basically no economic policies until 1960's. By that time, Spanish workers started to ask the uneasy question why their wages were at one third when compared to Germany. Only then his aides unleashed economic reforms leading to a more open and less regulated economy.
In short, there were leftist fascist dictators and conservative fascist dictators; both were enemies of freedom. However, to make things more complex, Franco's fascist government remained neutral during the WWII and saved many Jewish lives.
Important note: regardless of propaganda and popular wisdom, Hitler was not a fascist. He was national socialist, which is not a negligible difference.
(Devil's Dictionary of Economics & Finance, soon to appear as a classical paper book)