Fascism often thrives due to the support of those who are economically insecure, particularly the lower-middle classes. These individuals fear losing their modest means and are more likely to align with fascist movements. Richard Hofstadter pointed out that this sense of status anxiety similarly fuels the quasi-fascist elements of Progressivism, revealing the underlying social dynamics at play.

Demagogues capitalize on widespread resentment against wealthy elites, such as powerful bankers and economic aristocrats. They leverage populist rhetoric that resonates with the frustrations of ordinary people, positioning themselves as champions of the common man against perceived threats to their stability. This pattern reveals a consistent trend where economic and technological shifts give rise to fascism, driven by a coalition of the disaffected and populist leaders.