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State capitalism

STATE Capitalism attempts to combine the powers of central governments with the powers of capitalism. Under STATE Capitalism the government may fully or partially own enterprises, or it may exercise direct or indirect control over key enterprise decisions.

The Chinese and Russian versions of STATE Capitalism in the 21 st century are sometimes called authoritarian capitalism. MacGregor

Previous examples of STATE capitalism include:

  • Japan 1880-1940.
  • Germany in the1870s and the 1930-45. State capitalism in Germany in the latter period was better known as National Socialism.
  • Italy, under Mussolini (1925-1945).
  • Indonesia under Sukarno (1949-1969).

The international presence of SOE s expanded rapidly in the late 20 th century. In the process, the national identities of SOE s changed markedly as well.

Before 1990, all the largest firms in the world were private sector firms. Call them PE s or Private Enterprises. And before 1990 virtually all of the ten largest firms were American -owned.

By 2012, a very different pattern had emerged. By then, three of the world’s ten largest firms were SOE s , and all three were Chinese.

SOE s continued to grow in importance in the 21 st century. How substantial has the recent shift toward state capitalism been?

In the year 2000, SOE s accounted for only about 10% of global stock market values. (For wholly-owned SOE s that had been partially privatized. i.e. where government had sold off a fraction of shares to the public). By 2010, this share had doubled to 20% of global stock market values. The Economist , November 13, 2010

Ten years ago, Chinese firms were responsible for less than 1% of international business. By 2010, this share grew six-fold, to 6%, and is still rising fast.

We have seen that economics is not immune to fads and fashions. Conventional wisdom on the efficacy of SOE s and state capitalism has oscillated from great enthusiasm a half century ago, to strong skepticism two decades ago to once again, growing enthusiasm, until 2012. By 2014 doubts over the efficacy of heavy reliance on SOE s were again prominent.

Consider the record of experience in recent years.

SOE s are not confined to emerging nations. There is a 22 member club of rich nations called the Organization for Economic Co-operation and Development (OECD), which includes all developed nations plus Chile. In the OECD countries, SOE s have a combined market value of $2 trillion, and employ 6 million people. Generally, SOE s in the developed world are mostly in local electric power generation or water supply, or telecommunications, or as in Norway and Italy in oil and gas.

In the U.S., reliance upon SOE s has historically been relatively slight. The best known and largest U.S. SOE has been the TVA (Tennessee Valley Authority), which operates hydropower and nuclear power plants in Alabama, Tennessee and parts of other states. Like SOE s almost everywhere, the TVA pays no income taxes and pays no dividends to the owner, the government. They keep all profits. The U.S. also has had SOE s in Finance. By the nineties Fannie Mae and Freddie Mac, two large mortgage insurance entities owned by the government, began to rival the TVA in size. Later these troubled enterprises were supposedly “privatized”, but this was mainly an illusion. Fannie and Freddie after privatization have behaved pretty much the same as before privatization. Trouble has been coming for a long time, and finally erupted with explosive force in 2008-11, when both lost tens of billions of dollars (see chapter___).

Questions & Answers

What fields keep nano created devices from performing or assimulating ? Magnetic fields ? Are do they assimilate ?
Stoney Reply
why we need to study biomolecules, molecular biology in nanotechnology?
Adin Reply
yes I'm doing my masters in nanotechnology, we are being studying all these domains as well..
what school?
biomolecules are e building blocks of every organics and inorganic materials.
anyone know any internet site where one can find nanotechnology papers?
Damian Reply
sciencedirect big data base
Introduction about quantum dots in nanotechnology
Praveena Reply
what does nano mean?
Anassong Reply
nano basically means 10^(-9). nanometer is a unit to measure length.
do you think it's worthwhile in the long term to study the effects and possibilities of nanotechnology on viral treatment?
Damian Reply
absolutely yes
how to know photocatalytic properties of tio2 nanoparticles...what to do now
Akash Reply
it is a goid question and i want to know the answer as well
characteristics of micro business
for teaching engĺish at school how nano technology help us
Do somebody tell me a best nano engineering book for beginners?
s. Reply
there is no specific books for beginners but there is book called principle of nanotechnology
what is fullerene does it is used to make bukky balls
Devang Reply
are you nano engineer ?
fullerene is a bucky ball aka Carbon 60 molecule. It was name by the architect Fuller. He design the geodesic dome. it resembles a soccer ball.
what is the actual application of fullerenes nowadays?
That is a great question Damian. best way to answer that question is to Google it. there are hundreds of applications for buck minister fullerenes, from medical to aerospace. you can also find plenty of research papers that will give you great detail on the potential applications of fullerenes.
what is the Synthesis, properties,and applications of carbon nano chemistry
Abhijith Reply
Mostly, they use nano carbon for electronics and for materials to be strengthened.
is Bucky paper clear?
carbon nanotubes has various application in fuel cells membrane, current research on cancer drug,and in electronics MEMS and NEMS etc
so some one know about replacing silicon atom with phosphorous in semiconductors device?
s. Reply
Yeah, it is a pain to say the least. You basically have to heat the substarte up to around 1000 degrees celcius then pass phosphene gas over top of it, which is explosive and toxic by the way, under very low pressure.
Do you know which machine is used to that process?
how to fabricate graphene ink ?
for screen printed electrodes ?
What is lattice structure?
s. Reply
of graphene you mean?
or in general
in general
Graphene has a hexagonal structure
On having this app for quite a bit time, Haven't realised there's a chat room in it.
what is biological synthesis of nanoparticles
Sanket Reply
what's the easiest and fastest way to the synthesize AgNP?
Damian Reply
how did you get the value of 2000N.What calculations are needed to arrive at it
Smarajit Reply
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Source:  OpenStax, Economic development for the 21st century. OpenStax CNX. Jun 05, 2015 Download for free at http://legacy.cnx.org/content/col11747/1.12
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