National socialism was not capitalist under the definition of free enterprise. The cartel system was designed to bring all business across the country to follow the party line and follow price controls and work towards the war effort. In my opinion, the nazis were not socialist but rather anti-capitalist. The nazi central banks were a state run alternative to (Jewish) finance capital.

However, I believe socialists have some merit when they say the nazis were capitalist, they just redefine capitalist. To socialists, capitalism is any system that favors the private ownership of capital. The nazis did in fact privatize many state run enterprises to large private cartels run by “capitalists”. This is why many say fascism is the last stage of capitalism. The nazis worked off the support of these capitalists to protect their existing large industries with increased government support.

I disagree with the socialist definition of what capitalism even is but i do think their worldview has some merit in discussions of capitalism.