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State capitalism is an economic system in which the state undertakes business and commercial (i.e., for-profit) economic activity and where the means of production are nationalized as state-owned enterprises (including the processes of capital accumulation, centralized management and wage labor).
The Future of the Capitalist State. Cambridge: Polity Press. ISBN 0-7456-2272-0. Jessop, Bob (1990). State Theory: Putting the Capitalist State in its Place. University Park: Pennsylvania State University Press. ISBN 0-271-00735-4. Saville, John (1994). The Consolidation of the Capitalist State, 1800-1850. London and Boulder, Colorado: Pluto Press.
However, despite Rothbard's claims, Marxists do make a distinction between free-market capitalism and state capitalism. [95] The term state capitalism was first used by Marxist politician Wilhelm Liebknecht in 1896 [96] and Friedrich Engels, who developed Marxist theory, talked about capitalism with state ownership as a different form of ...
State capitalism, Bremmer explains, is a system in which governments use markets to create wealth and advance their political interests. In China, Russia and Saudi Arabia the state controls key ...
State capitalism is a capitalist market economy dominated by state-owned enterprises, where the state enterprises are organized as commercial, profit-seeking businesses. The designation has been used broadly throughout the 20th century to designate a number of different economic forms, ranging from state-ownership in market economies to the ...
Such systems are described as state capitalism because the state engages in capital accumulation, primarily as part of the primitive accumulation of capital (see also the Soviet theory of primitive socialist accumulation). The difference is that the state acts as a public entity and engages in this activity to achieve socialism by re-investing ...
The Chinese experience with socialism with Chinese characteristics is frequently referred to as a socialist market economy where the commanding heights are state-owned, but a substantial portion of both the state and private sectors of economy are governed by market practices, including a stock exchange for trading equity and the utilization of ...
In modern practice, social democracy has taken the form of predominantly capitalist economies, with the state regulating the economy in the form of welfare capitalism, economic interventionism, partial public ownership, a robust welfare state, policies promoting social equality, and a more equitable distribution of income. [2] [3]
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