Definition:
State capitalism is an economic system in which the state owns or controls key industries while operating them according to capitalist principles such as profit, competition, and capital accumulation.
Usage Context:
Used in political economy, international relations, and analyses of national development models.
Critical Note:
State capitalism is often conflated with socialism or communism. This conflation obscures the fact that ownership by the state does not eliminate capitalist dynamics if extraction, hierarchy, and profit orientation remain intact.
Related Terms:
Capitalism, State Communism, Power Consolidation, Resource Capture, Institutional Self-Alignment