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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).
In political science, statism or etatism (from French état 'state') is the doctrine that the political authority of the state is legitimate to some degree. [1] [2] [3] This may include economic and social policy, especially in regard to taxation and the means of production.
A state-owned enterprise is a commercial enterprise owned by a government entity in a capitalist market or mixed economy.Reasons for state ownership of commercial enterprises are that the enterprise in question is a natural monopoly or because the government is promoting economic development and industrialization.
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 ...
A political union is a type of political entity which is composed of, or created from, smaller polities, or the process which achieves this. These smaller polities are usually called federated states and federal territories in a federal government; and prefectures, regions, or provinces in the case of a centralised government.
In that way, political economy expanded the emphasis on economics, which comes from the Greek oikos (meaning "home") and nomos (meaning "law" or "order"). Political economy was thus meant to express the laws of production of wealth at the state level, quite like economics concerns putting home to order.
The book Laissez Faire and the General-Welfare State states: "The physiocrats, reacting against the excessive mercantilist regulations of the France of their day, expressed a belief in a 'natural order' or liberty under which individuals in following their selfish interests contributed to the general good. Since, in their view, this natural ...
As a political ideology, state socialism rose to prominence during the 20th century Bolshevik, Leninist, and later Marxist–Leninist revolutions, where single-party control over the state and, by extension, over the political and economic spheres of society was justified as a means to safeguard the revolution against counter-revolutionary ...