<snip>To know what socialism and fascism are, let us begin by examining some historical examples of each. Fascist states have included Hitler's Germany, Mussolini's Italy, Tojo's Japan, Franco's Spain, Pinochet's Chile, and possibly Peron's Argentina. If we were to focus on each of these concretes, we would observe numerous differences. For instance, Hitler's Fascism was racist. Mussolini's was not. Mussolini's fascism involved belligerent nationalism. Franco's did not. What unites each of these concretes into a group of similars can be seen in a common definition of fascism: "A governmental system with strong centralized power, permitting no opposition or criticism, controlling all affairs of the nation (industrial, commercial, etc.)" (American College Dictionary, New York: Random House, 1957).
Socialist states have included the USSR(1), Communist China, socialist Sweden, socialist England, Cuba, North Korea, and a handful of lesser regimes in Eastern Europe, East Africa, and Southeast Asia. Once again, there is a prima facie difficulty in determining what factor these various states held in common. After all, some socialist regimes (like Sweden's and England's) were elected democratically. Others, like the USSR's and the PRC's, were the result of popular violent revolutions. Still others were the product of either military coup (Cuba, Ethiopia, Vietnam) or foreign invasion (the Eastern Bloc). The trait common to all of these is provided, once again by the definition of socialism: "a theory or system of social organization which advocates the vesting of the ownership and control of the means or production, capital, land, etc., in the community as a whole" (American College Dictionary).
Now that we have these two concepts (socialism and fascism) squarely on the table, we can spell out their differences and similarities. It is obvious that there are numerous differences between socialism and fascism, the most obvious of which concerns their view of private property. Socialism abolishes the institution entirely; fascism does not. For instance, in the Soviet Union, citizens had to wait years for their names to come up on a list to receive a car from the government. At the same time, everyone is familiar with the existence of wealthy property owners like Oskar Schindler who lived under the Nazi regime. This difference in ideology did in fact manifest itself in actual historical practice. The communists and Social Democrats were, in fact, the main opponents of the rise of Nazi power in Weimar Germany; Nazi Germany and Socialist Russia were at each other's throats in World War II.
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http://www.lawrence.edu/sorg/OBJECTIVISM/socfasc.html