Horkheimer classed reformism, Bolshevism, and fascism together as variants of authoritarian state capitalism.

Evidence

Horkheimer regarded reformism, Bolshevism and fascism all as forms of authoritarian state; if fascism was described as a mixed form, then for him there was simply state capitalism as such, existing in its fascist and reformist variants. Whereas Engels and the German Social Democrats had seen state capitalism as the gateway to socialism, Horkheimer saw it as a form of organization tending to develop into an integral form of statism which would be capable of lasting for a considerable time, and even of taking the place of socialism as the new order succeeding capitalism. — Rolf Wiggershaus, The Frankfurt School, 303

Categorization

• DEFINE: Horkheimer’s ‘state capitalism’ names an integral statism capable of permanently replacing socialism, not a transitional stage.
• XREF: Directly connects to Pollock’s ‘State Capitalism’ essay referenced at the end of the same paragraph and to the Institute’s fascism-vs-monopoly-capitalism debate.