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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).
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 ...
Developmental state, or hard state, is a term used by international political economy scholars to refer to the phenomenon of state-led macroeconomic planning in East Asia in the late 20th century. In this model of capitalism (sometimes referred to as state development capitalism), the state has more independent, or autonomous, political power ...
The capitalist state is the state, its functions and the form of organization it takes within capitalist socioeconomic systems. [1] This concept is often used interchangeably with the concept of the modern state.
A property-owning democracy differs to a system of welfare-state capitalism, in which the state guarantees a social minimum but does not significantly intervene in the free market. [ 2 ] : 180 Welfare-state capitalism is based upon a redistribution of income through means tested social welfare , as opposed to a reallocation of productive ...
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 ...
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 ...
A periodization of capitalism seeks to distinguish stages of development that help understanding of features of capitalism through time. The best-known periodizations that have been proposed distinguish these stages as: Early / monopoly / state monopoly capitalism ; Free trade / monopoly / finance capitalism