State monopoly capitalism

The theory of state monopoly capitalism (also referred as stamocap)[1] was initially a Marxist thesis popularised after World War II. Lenin had claimed in 1916 that World War I had transformed laissez-faire capitalism into monopoly capitalism, but he did not publish any extensive theory about the topic. The term refers to an environment where the state intervenes in the economy to protect larger monopolistic or oligopolistic businesses from threats. As conceived by Lenin in his pamphlet of the same name the theory aims to describe the final historical stage of capitalism, of which he believed the Imperialism of that time to be the highest expression.[2]

Occasionally, the concept also appears in neo-Trotskyist[who?] theories of state capitalism as well as in libertarian anti-state theories.[citation needed] The analysis made is usually identical in its main features, but very different political conclusions are drawn from it.[clarification needed]


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