State capitalism

Reality tells us that state capitalism would be a step forward. If in a small space of time we could achieve state capitalism, that would be a victory.[42]^[43]

Lenin argued the state should temporarily run the economy which would eventually be taken over by workers.^[44] To Lenin, state capitalism did not mean the state would run most of the economy, but that state capitalism would be one of five elements of the economy:^[45]

State capitalism would be a step forward as compared with the present state of affairs in our Soviet Republic. If in approximately six months' time state capitalism became established in our Republic, this would be a great success and a sure guarantee that within a year socialism will have gained a permanently firm hold.^[45]

By the left

As a term and concept, state capitalism has been used by various

Anarchists

Emma Goldman (left) and Murray Bookchin (right) were two prominent anarchists who argued that the Soviet Union was state capitalist and criticized the Bolsheviks for it.

Perhaps the earliest critique of the Soviet Union as state capitalist was formulated by the Russian anarchists as documented in Paul Avrich's work on Russian anarchism.^[46]

The Russian anarchists' claim would become standard in anarchist works. Of the Soviet Union, the prominent anarchist Emma Goldman wrote an article from 1935 titled "There Is No Communism in Russia" in which she argued:

Such a condition of affairs may be called state capitalism, but it would be fantastic to consider it in any sense Communistic [...] Soviet Russia, it must now be obvious, is an absolute despotism politically and the crassest form of state capitalism economically.^[47]

When speaking about Marxism, Murray Bookchin said the following:

Marxism, in fact, becomes ideology. It is assimilated by the most advanced forms of state capitalist movement — notably Russia. By an incredible irony of history, Marxian 'socialism' turns out to be in large part the very state capitalism that Marx failed to anticipate in the dialectic of capitalism. The proletariat, instead of developing into a revolutionary class within the womb of capitalism, turns out to be an organ within the body of bourgeois society [...] Lenin sensed this and described 'socialism' as 'nothing but state capitalist monopoly made to benefit the whole people'. This is an extraordinary statement if one thinks out its implications, and a mouthful of contradictions.^[48]

While speaking about Leninism, the authors of An Anarchist FAQ say:

Rather than present an effective and efficient means of achieving revolution, the Leninist model is elitist, hierarchical and highly inefficient in achieving a socialist society. At best, these parties play a harmful role in the class struggle by alienating activists and militants with their organisational principles and manipulative tactics within popular structures and groups. At worst, these parties can seize power and create a new form of class society (a state capitalist one) in which the working class is oppressed by new bosses (namely, the party hierarchy and its appointees).^[49]

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Immediately after the Russian Revolution, many Western Marxists questioned whether socialism was possible in Russia. Specifically, Karl Kautsky said:

It is only the old feudal large landed property which exists no longer. Conditions in Russia were ripe for its abolition but they were not ripe for the abolition of capitalism. Capitalism is now once again celebrating a resurrection, but in forms that are more oppressive and harrowing for the proletariat than of old.

Instead of assuming higher industrialised forms, private capitalism has assumed the most wretched and shabby forms of black marketeering and money speculation. Industrial capitalism has developed to become state capitalism. Formerly state officials and officials from private capital were critical, often very hostile towards each other.

Consequently the working man found that his advantage lay with one or the other in turn. Today the state bureaucracy and capitalist bureaucracy are merged into one—that is the upshot of the great socialist revolution brought about by the Bolsheviks. It constitutes the most oppressive of all despotisms that Russia has ever had to suffer.^[50]

After 1929, exiled Mensheviks such as Fyodor Dan began to argue that Stalin's Russia constituted a state capitalist society.^[51] In the United Kingdom, the orthodox Marxist group the Socialist Party of Great Britain independently developed a similar doctrine. Although initially beginning with the idea that Soviet capitalism differed little from western capitalism, they later began to argue that the bureaucracy held its productive property in common, much like the Catholic Church's.^[52] As John O'Neill notes:

Whatever other merits or problems their theories had, in arguing that the Russian revolution was from the outset a capitalist revolution they avoided the ad hoc and post hoc nature of more recent Maoist- and Trotskyist-inspired accounts of state capitalism, which start from the assumption that the Bolshevik revolution inaugurated a socialist economy that at some later stage degenerated into capitalism.^[53]

Writing in the Menshevik journal Socialist Courier on 25 April 25, Rudolf Hilferding rejected the concept of state capitalism, noting that as practiced in the Soviet Union it lacked the dynamic aspects of capitalism such as a market which set prices or a set of entrepreneurs and investors which allocated capital. According to Hilferding, state capitalism was not a form of capitalism, but rather a form of totalitarianism.^[54]

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Another early analysis of the Soviet Union as state capitalist came from various groups advocating

Leon Trotsky stated that the term state capitalism "originally arose to designate the phenomena which arise when a bourgeois state takes direct charge of the means of transport or of industrial enterprises" and is therefore a "partial negation" of capitalism.^[64]

However, Trotsky rejected that description of the

The discussion goes back to internal debates in the Left Opposition during the late 1920s and early 1930s. Ante Ciliga, a member of the Left Opposition imprisoned at Verkhne-Uralsk in the 1930s, described the evolution of many within the Left Opposition to a theory of state capitalism influenced by Gavril Myasnikov's Workers Group and other left communist factions.^[30][65][66]

Following his release and his return to activity in the

Another is that of Tony Cliff, associated with the International Socialist Tendency and the British Socialist Workers Party (SWP), dating back to the late 1940s. Unlike Johnson-Forest, Cliff formulated a theory of state capitalism that would enable his group to remain Trotskyists, albeit heterodox ones.^[71] A relatively recent text by Stephen Resnick and Richard D. Wolff, titled Class Theory and History, explores what they term state capitalism in the former Soviet Union, continuing a theme that has been debated within Trotskyist theory for most of the past century.

Other terms used by critical left-wing theorists in discussing Soviet-style societies include bureaucratic collectivism, deformed workers' states, degenerated workers' states and the "new class".

Maoists and anti-revisionist Marxist–Leninists

In the common program set up by the Chinese People's Political Consultative Conference in 1949, in effect the country's interim constitution, state capitalism meant an economic system of corporatism. It provided as follows: "Whenever necessary and possible, private capital shall be encouraged to develop in the direction of state capitalism".^[72]

From 1956 to the late 1970s, the

After

Most current communist groups descended from the Maoist ideological tradition still adopt the description of both China and the Soviet Union as being state capitalist from a certain point in their history onwards—most commonly, the Soviet Union from 1956 to its collapse in 1991 and China from 1976 to the present. Maoists and anti-revisionists also sometimes use the term social imperialism to describe socialist states that they consider to be actually capitalist in essence—their phrase, "socialist in words, imperialist in deeds" denotes this.

By liberal economists

Rothbard distinguished it from

The term state capitalism is not used by

Austrian School economist Ludwig von Mises

, who argued:

The socialist movement takes great pains to circulate frequently new labels for its ideally constructed state. Each worn-out label is replaced by another which raises hopes of an ultimate solution of the insoluble basic problem of Socialism — until it becomes obvious that nothing has been changed but the name. The most recent slogan is "State Capitalism." It is not commonly realized that this covers nothing more than what used to be called Planned Economy and State Socialism, and that State Capitalism, Planned Economy, and State Socialism diverge only in non-essentials from the "classic" ideal of egalitarian Socialism.[78]

By Italian Fascists

On economic issues,

Italian Fascist leader Benito Mussolini claimed in 1933 that were Fascism to follow the modern phase of capitalism, its path would "lead inexorably into state capitalism, which is nothing more nor less than state socialism turned on its head. In either event, [whether the outcome be state capitalism or state socialism] the result is the bureaucratization of the economic activities of the nation".^[79]

Mussolini claimed that capitalism had degenerated in three stages, starting with dynamic or

supercapitalism beginning in 1914.^[80]

Mussolini denounced supercapitalism for causing the "standardization of humankind" and for causing excessive consumption.[81] Mussolini claimed that at this stage of supercapitalism "[it] is then that a capitalist enterprise, when difficulties arise, throws itself like a dead weight into the state's arms. It is then that state intervention begins and becomes more necessary. It is then that those who once ignored the state now seek it out anxiously".^[82] Due to the inability of businesses to operate properly when facing economic difficulties, Mussolini claimed that this proved that state intervention into the economy was necessary to stabilize the economy.^[82]

Mussolini claimed that dynamic or heroic capitalism and the

Private enterprise would control production, but it would be supervised by the state.^[84] Italian Fascism presented the economic system of corporatism as the solution that would preserve private enterprise and property while allowing the state to intervene in the economy when private enterprise failed.^[83]

In Western countries and European studies

An alternate definition is that state capitalism is a close relationship between the government and private capitalism such as one in which the private capitalists produce for a guaranteed market. An example of this would be the

entrepreneurial

firms produce for lucrative government contracts and are not subject to the discipline of competitive markets.

Both the Trotskyist definition and this one derive from discussion among Marxists at the beginning of the 20th century, most notably

imperialist

countries exhibited the latter definition and considered (and rejected) the possibility that they could arrive at the former.

State capitalism is practised by a variety of Western countries with respect to certain strategic resources important for national security. These may involve private investment as well. A government may own or even monopolize oil production or transport infrastructure to ensure availability in the case of war. Examples include Neste, Equinor and OMV.

There are limits according to arguments that state capitalism exists to ensure that wealth creation does not threaten the ruling elite's political power which remains unthreatened by tight connections between the government and the industries while state capitalist fears of capitalism's creative destruction, the threat of revolution and any significant changes in the system result in the persistence of industries that have outlived their economic usefulness and an inefficient economic environment that is ill-equipped to inspire innovation.

Several European scholars and political economists have used the term to describe one of the three major varieties of capitalism that prevail in the modern context of the

corporatist

model.

The author cites France and to a lesser extent Italy as the prime examples of modern European state capitalism.^[85] A general theory of capitalist forms, whereby state capitalism is a particular case, was developed by Ernesto Screpanti, who argued that Soviet-type economies of the 20th century used state capitalism to sustain processes of primitive accumulation.^[86] In their historical analysis of the Soviet Union, Marxist economists Richard D. Wolff and Stephen Resnick identify state capitalism as the dominant class system throughout the history of the Soviet Union.^[87]

State monopoly capitalism

The theory of

neo-Stalinist doctrine popularised after World War II. The term refers to an environment where the state intervenes in the economy to protect large monopolistic or oligopolistic businesses from competition by smaller firms.^[9]

The main principle of the ideology is that big business, having achieved a monopoly or cartel position in most markets of importance, fuses with the government apparatus. A kind of financial oligarchy or conglomerate therefore results, whereby government officials aim to provide the social and legal framework within which giant corporations can operate most effectively. This is a close partnership between big business and government, and it is argued that the aim is to integrate labour-unions completely in that partnership.

State monopoly capitalist (stamocap) theory aims to define the final historical stage of capitalism following monopoly capitalism, consistent with Lenin's definition of the characteristics of imperialism in his short pamphlet of the same name. Occasionally the stamocap concept also appears in

libertarian

anti-state theories. The analysis made is usually identical in its main features, but very different political conclusions are drawn from it.

Political implications

The strategic political implication of stamocap theory towards the end of the Joseph Stalin era and afterwards was that the labour movement should form a people's democratic alliance under the leadership of the communist party with the progressive middle classes and small business against the state and big business (called monopoly for short). Sometimes this alliance was also called the anti-monopoly alliance. At the 1965 Afro-Asian Conference, delivered at the Second Economic Seminar of Afro-Asian Solidarity in Algeri, Che Guevara argued that "[e]ver since monopoly capital took over the world, it has kept the greater part of humanity in poverty, dividing all the profits among the group of the most powerful countries. The standard of living in those countries is based on the extreme poverty of our countries".^[88]

Criticism

When Eugen Varga introduced the theory, orthodox Stalinist economists attacked it as incompatible with the doctrine that state planning was a feature only of socialism and that "under capitalism anarchy of production reigns".^[89]

Critics of the stamocap theory (e.g. Ernest Mandel and Leo Kofler) claimed the following:

• Stamocap theory wrongly implied that the state could somehow overrule inter-capitalist competition, the laws of motion of capitalism and market forces generally, supposedly cancelling out the operation of the law of value.
• Stamocap theory lacked any sophisticated account of the class basis of the state and the real linkages between governments and elites. It postulated a monolithic structure of domination which in reality did not exist in that way.
• Stamocap theory failed to explain the rise of
  neoliberal
  ideology in the business class, which claims precisely that an important social goal should be a reduction of the state's influence in the economy.
• Stamocap theory failed to show clearly what the difference was between a socialist state and a bourgeois state, except that in a socialist state the communist party, or rather its central committee, played the leading political role. In that case, the class-content of the state itself was defined purely in terms of the policy of the ruling political party or its central committee.

Current forms in the 21st century

State capitalism is distinguished from capitalist

intervenes in markets to correct market failures or to establish social regulation or social welfare provisions in the following way: the state operates businesses for the purpose of accumulating capital and directing investment in the framework of either a free market or a mixed-market economy. In such a system, governmental functions and public services are often organized as corporations

, companies or business enterprises.

People's Republic of China

Further information: Party-state capitalism

Many analysts assert that China is one of the main examples of state capitalism in the 21st century.

financial crisis of 2007–2008.^[92] Bremmer draws a broad definition of state capitalism as such:^[93]

In this system, governments use various kinds of state-owned companies to manage the exploitation of resources that they consider the state's crown jewels and to create and maintain large numbers of jobs. They use select privately owned companies to dominate certain economic sectors. They use so-called sovereign wealth funds to invest their extra cash in ways that maximize the state's profits. In all three cases, the state is using markets to create wealth that can be directed as political officials see fit. And in all three cases, the ultimate motive is not economic (maximizing growth) but political (maximizing the state's power and the leadership's chances of survival). This is a form of capitalism but one in which the state acts as the dominant economic player and uses markets primarily for political gain.

Following on Bremmer, Aligica, and Tarko[94] further develop the theory that state capitalism in countries like modern day China and Russia is an example of a rent-seeking society. They argue that following the realization that the centrally planned socialist systems could not effectively compete with capitalist economies, formerly Communist Party political elites are trying to engineer a limited form of economic liberalization that increases efficiency while still allowing them to maintain political control and power.

In his article "We're All State Capitalists Now", British historian and Laurence A. Tisch Professor of History at Harvard University Niall Ferguson warns against "an unhelpful oversimplification to divide the world into 'market capitalist' and 'state capitalist' camps. The reality is that most countries are arranged along a spectrum where both the intent and the extent of state intervention in the economy vary".^[93] He then notes: "The real contest of our time is not between a state-capitalist China and a market-capitalist America, with Europe somewhere in the middle. It is a contest that goes on within all three regions as we all struggle to strike the right balance between the economic institutions that generate wealth and the political institutions that regulate and redistribute it."^[93]

In the common program set up by the Chinese People's Political Consultative Conference in 1949, in effect the country's interim constitution, state capitalism meant an economic system of corporatism. It provided as follows: "Whenever necessary and possible, private capital shall be encouraged to develop in the direction of state capitalism."^[95]

Analysis of the

basic income/social dividend or similar scheme, which are major features in the market socialist literature. They conclude that China is neither a form of market socialism nor a stable form of capitalism.^[96]

The

Chinese government maintains that these reforms are actually the primary stage of socialism^[97] and the Chinese Communist Party remains nominally dedicated to establishing a socialist society and subsequently developing into full communism.^[98] This was reiterated by Xi Jinping at the 2023 G20 New Delhi summit.^{[citation needed}

]

Republic of China (Taiwan)

Some Taiwanese economists referred to Taiwan's economic model during the

Taiwan's economy includes a number of state-owned enterprises, but the state's role in the economy has shifted from that of an entrepreneur to a minority investor in companies alongside the democratization agenda of the late 1980s.^[99]

Norway

According to The Economist, Norway is "embracing state capitalism", as the

government of Norway, funded by the government's ownership of the country's oil reserves, has ownership stakes in many of the country's largest publicly listed companies, owning 37% of the Oslo stock market^[100] and operates the country's largest non-listed companies including Equinor and Statkraft. There are legal limits however, as the Government Pension Fund of Norway is not allowed to own more than 15% of any single Norwegian company.^[101]

Singapore

Singapore has attracted some of the world's most powerful corporations through business friendly legislation and through the encouragement of Western style corporatism, with close cooperation between the state and corporations. Singapore's large holdings of government-linked companies and the state's close cooperation with business are defining aspects of the economy of Singapore. Singapore's government owns controlling shares in many government-linked companies and directs investment through sovereign wealth funds, an arrangement that has been cited as state capitalism when defined as "system in which the state functions as the leading economic actor and uses markets primarily for political gain.".^[102] Listed companies in which the government is the controlling shareholder account for 37% of the total stock market capitalization in Singapore.^[103]

See also

• Authoritarian socialism
• Christian finance
• Collective capitalism
• Communist state
• Constitutional economics
• Corporate capitalism
• Corporatization
• Crony capitalism
• Developmental state
• Distributism
• East Asian model of capitalism
• Economics of fascism
• Gaullism
• Indicative planning
• List of socialist states
• Mercantilism
• Mixed economy
• Ordoliberalism
• Political economy
• Preussentum und Sozialismus
• Rentier state
• Rhine capitalism
• Social market economy
• State-owned enterprise
• Statism
• Tiger Cub Economies
• Tripartism
• Types of capitalism

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43. ^ Pena, David S. (22 September 2007). "Tasks of Working-Class Governments under the Socialist-oriented Market Economy". Political Affairs. Archived from the original on 5 September 2008. Retrieved 26 June 2020.
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45. ^ ^{a b} Lenin, Vladimir (1965) [1921]. The Tax in Kind (The Significance of the New Policy and Its Conditions). Vol. 32. Translated by Sdobnikov, Tury (1st English ed.). Moscow: Progress Publishing. pp. 329–365. Retrieved 26 June 2020 – via Marxists Internet Archive. {{cite book}}: |work= ignored (help)
46. ^ Paul Avrich, 1967, The Russian Anarchists, Princeton University Press, chapter 7.
47. ^ Emma Goldman (1935). "There Is No Communism in Russia". RevoltLib.
48. ^ Murray Bookchin (1971). "Listen, Marxist!". RevoltLib.
49. ^ "An Anarchist FAQ - H.5 What was the Kronstadt Rebellion? (What is vanguardism and why do anarchists reject it?)". Infoshop. Retrieved 1 January 2016.
50. ^ Kautsky, K. 1919 [1983]. Terrorism and Communism. Cited from P. Goode (ed.), Karl Kautsky: Selected Political Writings. London: Macmillan, 1983, cited in 'State Capitalism' in the Soviet Union M.C. Howard and J.E. King
51. ^ Liebich, A. 1987. 'Marxism and totalitarianism: Rudolf Hilferding and the Mensheviks', Dissent 34, Spring, pp. 223-40
52. ISBN 0-333-36775-8
53. ^ Buick, Adam; Crump, John; O'Neill, John (July–September 1988). State Capitalism: The Wages System Under New Management. Political Quarterly. 59 (3): 398–399.
54. ^ Rudolf Hilferding (April 25, 1940). "State Capitalism or Totalitarian State Economy". marxists.org. Socialist Courier. Retrieved June 17, 2018. A capitalist economy is governed by the laws of the market (analyzed by Marx) and the autonomy of these laws constitutes the decisive symptom of the capitalist system of production
55. ^ Maurice Brinton (1970). "The Bolsheviks and Workers' Control: The State and Counter-Revolution". www.marxists.org. Retrieved 1 January 2016.
56. ^ Jerome, W. and Buick, A. 1967. 'Soviet state capitalism? The history of an idea', Survey 62, January, pp. 58-71.
57. ^ EH Carr, The Interregnum 1923-1924, London, 1954, p80
58. ^ Marshall Shatz "Makhaevism after Machajski". Archived from the original on October 27, 2009. Retrieved 2014-04-07.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
59. ^ Bordiga, Amadeo (1952). "Dialogue With Stalin". Translated by Libri Incogniti. Il Programma Comunista. Retrieved 11 November 2019.
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62. ISBN 9780981289731
    . Retrieved 8 July 2020 – via The Anarchist Library.
63. ^ Pannekoek, Anton (January 1937). "State Capitalism and Dictatorship". International Council Correspondence. III (1). Retrieved 26 June 2020.
64. ISBN 0-486-43398-6
    . Retrieved 31 May 2007.
65. ^ Ciliga, Ante (1938). Au pays du grand mensonge.
66. ^ Philippe Bourrinet, "An Ambiguous Journey"
67. ^ Dunayevskaya, Raya (1941). "The Union of Soviet Socialist Republics is a Capitalist Society". Internal Discussion Bulletin of the Workers Party. Retrieved 23 April 2020.
68. ^ Dunayevskaya, Raya (1946). "The Nature of the Russian Economy". The New International. XII (10): 313–317. XIII (1/January 1947): 27–30. Retrieved 23 April 2020.
69. ISBN 9780882860794
    . Retrieved 23 April 2020.
70. ^ State-capitalism and World Revolution by Johnson-Forest, Socialist Workers Party, 1950.
71. ^ Aufheben Cliff and the neo-Trotskyist theory of the USSR as state capitalist in What Was The USSR?
72. ^ "Modern History Sourcebook: The Common Program of The Chinese People's Political Consultative Conference, 1949". Fordham University. Retrieved 19 January 2019.
73. ^ The Economics of Revisionism by the Irish Communist Organisation, 1967.
74. ^ Imperialism and the Revolution by Enver Hoxha, 1978.
75. ^ Rothbard, Murray (1973). "A Future of Peace and Capitalism". In James H. Weaver (ed.). Modern Political Economy. Boston: Allyn and Bacon. Retrieved 2007-05-31.
76. ^ Rothbard, Murray (2000). "Egalitarianism as a revolt against nature and other essays". Left and right: the prospects for liberty. Auburn, Ala.: Ludwig von Mises Institute. {{cite journal}}: Cite journal requires |journal= (help)
77. Andrei, Illarionov (2006-01-25). "When the state means business"
    . International Herald and Tribune.
78. ISBN 0-913966-63-0
    . Retrieved 31 May 2007.
79. ^ Mussolini, Benito; "Address to the National Corporative Council (14 November 1933)". Fascism: Doctrine and Institutions. Fertig, 1978.
80. ^ Falasca-Zamponi, Simonetta. Fascist Spectacle: The Aesthetics of Power in Mussolini's Italy. University of California Press, 2000. pp. 136.
81. ^ Falasca-Zamponi, Simonetta. Fascist Spectacle: The Aesthetics of Power in Mussolini's Italy. University of California Press, 2000. pp. 137.
82. ^ ^{a b} Mussolini, Benito; Schnapp, Jeffery Thompson (ed.); Sears, Olivia E. (ed.); Stampino, Maria G. (ed.). "Address to the National Corporative Council (14 November 1933) and Senate Speech on the Bill Establishing the Corporations (abridged; 13 January 1934)". A Primer of Italian Fascism. University of Nebraska Press, 2000. pp. 158.
83. ^ ^{a b} Salvemini, Gaetano. Under the Axe of Fascism. READ BOOKS, 2006. pp. 134.
84. ^ Salvemini. p. 134.
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86. ^ Ernesto Screpanti, Capitalist Forms and the Essence of Capitalism, "Review of International Political Economy", vol. 6, n. 1, 1999; Ernesto Screpanti, The Fundamental Institutions of Capitalism, Routledge, London 2001.
87. ^ Resnick, Stephen; Wolff, Richard D. (2002). Class Theory and History: Capitalism and Communism in the U.S.S.R. London: Routledge.
88. ISBN 9781876175696
    . Retrieved 8 July 2020 – via Marxists Internet Archive.
89. ^ The Case of Eugene Varga Raya Dunayevskaya 1949.
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92. ^ Dyer, Geoff (13 September 2010). "State capitalism: China's 'market-Leninism' has yet to face biggest test". Financial Times. Archived from the original on 2022-12-10. Retrieved 2010-12-08.
93. ^ ^{a b c} Ferguson, Niall (10 February 2012). "We're All State Capitalists Now". Foreign Policy. Archived from the original on 8 September 2014. Retrieved 11 March 2017.
94. ^ Aligica, Paul and Vlad Tarko (2012). "State Capitalism and the Rent-SeekingConjecture", Constitutional Political Economy 23(4): 357-379
95. ^ "Modern History Sourcebook: The Common Program of The Chinese People's Political Consultative Conference, 1949". Fordham University. Retrieved 19 January 2019.
96. ^ Market Socialism or Capitalism? Evidence from Chinese Financial Market Development, by Julan Du and Chenggang Xu. 2005. IEA 2005 Round Table on Market and Socialism.
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99. ISBN 978-0520295988
    . A decade after Taiwan made its democratic transition, the KMT's Leninist control model has yet to fade from the decision-making process. In short, both China's and Taiwan's state capitalism have their roots in the Leninist legacy. [...] To be specific, Taiwan's state capitalism has experienced a transformation from 'leviathan as entrepreneur' in the pre-1989 period to 'leviathan as a minority investor' with the agenda of democratization in the late 1980s.
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Further reading

• Guy Ankerl, Beyond
  ISBN 0-87073-938-7
• Nikolai Bukharin, Imperialism and World Economy.
• Gerd Hardach, Dieter Karras and Ben Fine, A short history of socialist economic thought., pp. 63–68.
• Bob Jessop, The capitalist state.
• Charlene Gannage, "E. S. Varga and the Theory of State Monopoly Capitalism", in Review of Radical Political Economics 12(3), Fall 1980, pages 36–49.
• Johnn Fairley, French Developments in the Theory of State Monopoly Capitalism, in: Science and Society; 44(3), Fall 1980, pages 305–25.
• Ernest Mandel, Late Capitalism, pp. 515–522.
• Ernest Mandel, Historical Materialism and the Capitalist State.
• Paul Boccara et al., Le Capitalisme Monopoliste d'Etat. Paris: Editions Sociales, 1971 (2 vols).
• G. N. Sorvina et al., "The Role of the State in the System of State Monopoly Capitalism", in: The Teaching of Political Economy: A Critique of Non Marxian Theories. Moscow: Progress, 1984, pages 171–179.
• Ben Fine & Laurence Harris, Re-reading Capital.
• Jacques Valier, Le Parti Communiste Francais et le Capitalisme Monopoliste D'Etat, 1976
• Valentin Dyachenko, Как марксизм из науки превращался в утопию. Размышления о деформации теории Маркса и причинах краха советского проекта. (How Marxism turns from a science into a utopia. Reflections on the deformation of Marx's theory and the causes of the collapse of the Soviet project.) — Москва:, 2015.
• Alexander Ostrovsky, Существовал ли социализм в СССР? (Did socialism exist in the USSR?)// Альтернативы № 4, 2011.
• Avenir Solovyov, Общественный строй России — вчера, сегодня, завтра (Короткие ответы на острые вопросы) (The social system of Russia — yesterday, today, tomorrow (Short answers to acute questions)). — Кострома: Б. и. 1994.

External links

Wikiquote has quotations related to State capitalism.

Library resources about
State capitalism

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• Resources in your library
• Resources in other libraries

• The Economist debate on State and liberal capitalism.
• In Defense of Marxism by Leon Trotsky – A collection of essays and letters to members of the US Socialist Workers Party from 1939 to 1940.
• Our Recent Congress, Justice 1896 by Wilhelm Liebknecht
• What was the USSR? by Aufheben at the Wayback Machine (archived October 27, 2009)
• State Capitalism in Russia by Tony Cliff
• Toward a Theory of State Capitalism: Ultimate Decision-Making and Class Structure Libertarian analysis by Walter E. Grinder and John Hagel.
• Against the Theory of State Capitalism by Ted Grant
• The Russian Question: A debate between Raya Dunayevskaya and Max Shachtman (May 1947 with August 2005 commentary)
• Imperialism and World Economy by Nikolai Bukharin
• State Capitalism and Dictatorship by Anton Pannekoek
• The Theory of "State Capitalism", by Ernest Mandel (June 1951)
• The Marxian Concept of Capital and the Soviet Experience: Essay in the Critique of Political Economy Archived 2011-08-04 at the Wayback Machine by Paresh Chattopadhyay
• Collection of left-communist links that dismiss the bolshevik state capitalism.
• "The Nature of the Russian Economy" a 1946 Polemic written by
  Marxist
  movement.
• "Trotskyism after Trotsky: The origins of the International Socialists" Summarization of three key points on which Cliff and the International Socialist Tendency deviated from what is traditionally the orthodox Trotskyist position.
• "C.L.R. James on Marx's Capital and State Capitalism" Archived 2013-05-10 at the Wayback Machine
• State Capitalism Comes of Age, Foreign Affairs, May/June 2009
• The End of The Free Market: Who Wins the War between States and Corporations, by Ian Bremmer, (May 2010)
• The Age of Monopoly-Finance Capital by John Bellamy Foster, Monthly Review, February 2010

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