Word For The Day: State Capitalism

State capitalism, in its classic meaning, is a private capitalist economy under state control. This term was often used to describe the controlled economies of the great powers in the First World War.

In more modern sense, state capitalism is a term that is used, sometimes interchangeably with state monopoly capitalism, to describe a system where the state is intervening in the markets to protect and advance interests of Big Business. This practice is in sharp contrast with the ideals of free market capitalism.

State Capitalism


Also See: Industrial Policy, Mercantilism, Crony capitalism