Author:
David Lane, Emmanuel College, University of Cambridge (Cambridge, UK)
Abstract:
the paper outlines and criticises different interpretations of the concept of state capitalism in the context of societies moving from capitalism to socialism. Distinctions are made between the state as owner of the means of production, as a form of economic coordination, as a dominant institution of political power, and as an instrument to extract and allocate surplus value. The failure of the post-socialist European countries to move to a sustainable market capitalist system, and the rise of a hybrid state-led market economy in China, have led to such economies becoming lasting, rather than a transitionary, economic formations. The paper distinguishes between state capitalism, state-capitalism, state-controlled capitalism and state-socialism. The author contends that the extraction and allocation of economic surplus by the state have to be measured by its end uses and evaluated in the context of the dominant political values. Hybrid economies with an interdependent market capitalist sector coexisting with a politically-led and dominant state sector are proposed as an alternative to neoliberal forms of coordination. It provides a framework for the development of a rational political economy.
Keywords: state capitalism, controlled capitalism, hybrid capitalism, liberal capitalism, neoliberal globalization, Marxist concept of state capitalism, conscious production control, central planning, noonomy, economic rationality.
For citation: Lane D. (2022). The Ambiguities of State Capitalism and the Rise of Hybrid State-Controlled Capitalism. Noonomy and Noosociety. Almanac of Scientific Works of the S.Y. Witte INID, vol. 1, no. 4, pp. 15–25. DOI: 10.37930/2782-6465-2022-1-4-15-25