State capitalism facts for kids

State capitalism is an economic system where the state government controls most or all steps of making a product. Capitalism is an economic system calling for the private ownership of factories and everything needed to make a product - called the "means of production".

In Free-market capitalism, "private ownership" means that one, or a few, private owners who own a business have control over the means of production, even though the workers are the people who make the products.

Images for kids

• 

  Friedrich Engels, who argued that state ownership does not do away with capitalism by itself.

• 

  Murray Rothbard, who advanced a right-libertarian analysis of state capitalism

• 

  Ludwig von Mises, who described state capitalism as a form of state socialism

• 

  Benito Mussolini, who claimed that the modern phase of capitalism is state socialism "turned on its head"

See also

In Spanish: Capitalismo de Estado para niños