Capitalism and Capitalist State

Reinventing State Capitalism

SCHOOL OF ACCOUNTING, FINANCE AND MANAGEMENT Lacking Capitalism: Desiring marketing in times of capitalist crisis

In this paper we analyze the social and historical construction process of marketing, and how it is inherently linked to the reproduction of capitalism in times of crisis. Based on Foucauldian discourse theory, we critically interrogate marketing’s discursive change from a productionand sales-led to a consumption-led paradigm in the 1960s and 1970s. We use Lacan’s (1977, 1998) theory of individ...

A Model of China’s State Capitalism∗

This paper documents a hallmark feature of China’s state capitalism as the state controlling the economy in a vertical economic structure: State-owned enterprises (SOEs) monopolize key industries and markets in the upstream, whereas the downstream industries are largely open to private competition. We develop a general-equilibrium model to show that this unique vertical structure, when combined...

‘State Capitalism’ in the Soviet Union

The aim of this paper is to explore the reactions to the Bolshevik Revolution of one group of critics from the left: those who saw it as ushering in a new form of capitalism. The controversy over state capitalism had both theoretical and practical significance. At the analytical level it presented an important test of Marx’s conception of historical materialism, which had been formulated in a l...

Capitalism, the state, and the underlying drivers of human development

What are the underlying drivers of human development? This essay argues that long-term human development, in incomes, social conditions, security and so on, is fundamentally driven by capitalist dynamics and state functioning. The big issue is not state versus market, or growth versus equity, or dynamism versus security. It is the jointly determined functioning of both capitalism and the state....