2. But the word "socialist" is right in their name!
Many political entities have names that can be misleading. Consider, for example, the
Holy Roman Empire (a confederation of mainly German territories during the Middle Ages and the early modern period) and North Korea's official name, the Democratic People's Republic of Korea (a totalitarian dictatorship). Historically, several right-wing figures used the term "socialism" to mean something very different from what would be understood by traditional left-wing
socialism, referring simply to the broader concept of collectivism and anti-individualism. The prominent French
reactionary monarchist Charles Maurras famously said "a socialism liberated from the democratic and cosmopolitan element fits nationalism well as a well-made glove fits a beautiful hand". Maurras's views influenced
fascism.
Oswald Spengler's ideal of "
Prussian Socialism" directly influenced Nazism, and Spengler promoted it as a member of the far-right
Conservative Revolutionary movement. The
usage of the word "socialism" by the Nazis is different from the common usage of the term "socialism", which refers to an economic philosophy involving advocacy for social ownership of the means of production.
In the case of the Nazi party, the phrase "national socialist" was a nationalist response to the rise of socialism in Europe by offering a redefinition of "socialism" to refer to the promotion of the interests of the nation, as opposed to ideas of individual self-interest. But there was no policy of social ownership of the means of production. The Nazis did talk about capitalism being bad, but they defined it as a Jewish-originated economic philosophy based on individualism that promoted plutocracy in the interest of the Jews, at the expense of non-Jewish nations and races. This was put in contrast to the Nazis' conception of socialism, which was done in order to win over people attracted to anti-capitalist and socialist ideas to their cause. They rejected ideas of equality and working class solidarity, instead advocating for social hierarchy and national strength.
This article sums it up well.