I’ve heard liberals argue that fascism represents the merging of state and corporation. This is so they can make institutionalized capitalism appear like fascism. But at the same time they argue that corporations should be collectively owned, as with socialism. But what that results in is merging of state and corporation, their definition of fascism. Capitalism in its proper form cannot be institutionalized, however. It represents the separation of state and corporation.
There is always Capitalism. It’s just a matter of how the Capital is distributed. In the Soviet Union, Capital was in the hands of the State.