Fascism has many definitions but in all cases there is pervasive cooperation between government and business. Following WWI Benito Mussolini of Italy used the term but most fascist countries fail to identify themselves as such.
So far Fascism has destroyed every country in which it has been tried. In democratic societies, Fascism develops without much awareness on the part of the public. Politicians and business leaders have compatible goals and aspirations. The news media feeds off of both. Formal agreements are not necessary because parties with compatible incentives find one another and work together naturally. Businesses compete for access to government in order to remove themselves from free market restraints. Often a business can have laws passed that literally capture customers or force people to buy products and services.
In early years a fascist setup demonstrates amazing economic growth and thus gets the respect of voters. Pro-business is deemed to be conservative and the public assumes, pro-business is part of capitalism. All the while, the economy is being destroyed. Income distribution is increasingly skewed to the top. The poor are scorned for being lazy.
So, why is fascism so bad for a country if the economy grows so fast? The competition among corporations to control government becomes deadly. Fascism robs the poor and middle class from the beginning but also forces smaller corporations out of business eventually. Resources are allocated less efficiently with every day that passes. In a free market economy what is produced is what people want to buy. When business controls government there is a natural incentive to extract money out of people rather than satisfy consumer preferences. All businesses become less and less efficient until the whole system implodes.
The initial successes of a fascist system stop suddenly. Think of an economy as if it was a jet plane. Fly a jet at maximum speed and its performance is amazing but it runs out of fuel very quickly. A fascist economy is like a jet plane flying at maximum speed with a pilot who does not plan on landing any time soon. His fate is known ahead of time. It works the same with pro-business government policies. Under Fascism, corporations unwittingly destroy their food supply.
Fascism is a cancer that grows in a society and so far it has not been successfully treated. It has destroyed every country in which it has been tried. Despite Americans’ high opinion of themselves, the United States has evolved into a fascist country. Chances are very good that this system will be terminal. There are no cases of reformed Fascist nations.