A political system where the government indirectly controls property through economic policy, regulations and controls.

Fascism is a form of socialism, where the government controls the property. In this case, the government exerts control indirectly. Instead of outright nationalization, it allows companies to exist and non-governmental managers to run the companies, but only if they do what the government desires. The government will exert control through the laws and economic controls. So while property rights are left to individuals in name, they are controlled by the government in fact.

Fascism is most closely associated with the NAZIs and Hitler, the most prominent, overtly fascist regime. Because of that, it is often associated with racism, anti-Semitism, and Nationalism. These are non-essentials, though.