Abstract
This paper tries to address the ethical question of Nazism from the point of view of social relations.
That implies linking the fulfilment of the fascist ideology with its economic conditions. In this sense, the
main proposal is to highlight that, crimes such as those committed by the Nazi regime, are not only possible
based on a monstrous bureaucratic formation but also from a permissive dynamic of production and
exchange. However, the relative autonomy that we can claim over the ideological factor of the phenomenon
faces severe limits. In the "National-socialist" case, those limits are the declining demand, the increase in
government debt and the inhibition of the productive investment of capital. It is as if Evil incarnated only at
the cost of eroding its conditions of possibility.