State control of credit, money, and labor prevents slumps becoming mass unemployment.

Evidence

National Socialism is built on full employment. That is its sole gift to the masses, and its significance must not be underestimated. The business cycle has not been brought to an end, of course, nor has the economic system been freed from periods of contraction. But state control over credit, money, and the labor market prevents slumps from taking the form of large-scale unemployment. — Rolf Wiggershaus, The Frankfurt School, 310

Categorization

• DEFINE: Neumann’s core mechanism for monopoly/authoritarian capitalism: full employment achieved by state command of credit and labor markets rather than by ending the business cycle.