State Capitalism (Noun)
Meaning
An economic system that is primarily capitalistic but there is some degree of government ownership of the means of production.
Classification
Nouns denoting groupings of people or objects.
Examples
- The government's decision to acquire a majority stake in the airline was seen as a move towards state capitalism.
- Critics argue that China's economic model is an example of state capitalism, where the government has significant control over key sectors.
- Some economists believe that state capitalism is the best way to develop an economy, citing the success of countries like Singapore.
- The hybrid model of state capitalism has allowed Norway to balance economic growth with social welfare.
- Supporters of state capitalism argue that it allows for strategic intervention in the economy, correcting market failures and promoting national interests.