State Capitalism

Discipline: Political Science

Theory of state under communism.

In Russia after the revolution of 1917, what developed was not communism but the assumption of the powers and functions of capitalism by the state.

In an amended version (as 'state monopoly capitalism' or 'stamocap'), it is argued that in western capitalist society state and capitalism have joined in alliance to create a new form of capitalism.

Source:
David Miller, ed., The Blackwell Encyclopaedia of Political Thought (Oxford, 1987)

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