State Capitalism Today

Abstract

The concept of state capitalism is associated by many on the left with past debates about Russia. The argument as to whether Russia or the Soviet Union was communist, socialist, a degenerated workers’state, some kind of bureaucratic collectivism, or state capitalist is often held up as a typical example of far-left sectarian squabbling. John Molyneux in this article suggests that that there is much more at stake in the question of state capitalism than what label should be attached to Russia or other“communist” countries. Rather, the issue goes to the heart of our understanding of the nature of capitalism, the Marxist critique of it, and the essence of socialism.