State capitalism

“State capitalism” is a term that’s been used for over 100 years by economists and others to describe a system where the state employs the workers, pays their wages, sells what’s produced to make profits etc (instead of private employers doing this). Many people don’t know that what came about it Russia, China, Cuba, North Korea etc was state capitalism, and was never socialism or communism (i.e. a society where the people collectively own and control the means of production). In fact, the class-free, state-free, money-free socialism/communism that Marx and Engels wanted and wrote about, has not yet begun.

Those people who ludicrously think Russia had socialism or communism should read a history book about Lenin, then they would realise that he repeatedly said he wanted "state capitalism" for Russia and he said that it would be "a great success".

by Economics Professor February 24, 2023

State Capitalism

Origin; late 20th century socialist academia and media.

A catchall euphemism ascribed by apologetic socialists to the destructive economic policy, human rights abuses and totalitarian dictatorship of every failed or remnant Marxist regime. Often employed despite the prohibition of private property, extreme economic intervention by the state, broad based central planning and state domination of all aspects of individual life under those oppressive Marxist dictatorships.

ThE ECoNomy oF tHe SoVieT uNioN WAs StATe CapitAliSm, lIkE cHiNA Is toDay. rEaL cOmMunIsM HaS nEvER bEeN triED.

by Smitty Jim October 12, 2019

State capitalism

A funny word from Communism

"Nooooooo it wasn't real communism it was state capitalism"

by dank me me me October 6, 2020

State capitalism

An economic system where the state owns the means of production

It is a subject of debate whether state capitalism was the system of the Soviet Union and China, however I would argue that they were both state socialist (something that originated from these places)

by Donna tramp February 10, 2021

late-stage capitalism

We have reached late-stage capitalism. This is the era where businesses, investors and even the layperson will try everything they possibly can to capitalize on literally anything and every situation. The increasingly diverse stock industry and the booming crypto mining industry can be seen as one of the many aspects of late-stage capitalism. There is no single way to define late-stage capitalism, as the effects are most often seen on a micro scale and the scope is very broad as a result of the plethora of industries.

Some of the various examples of late-stage capitalism could include, but are not limited to: profiting off of your attractive physique, selling your personal data, selling your poop, dropshipping, house flipping, game companies making every single game pay-to-win, news corporations putting paywalls on their news sites, smartphone companies removing the headphone jack to save money, paying people to say positive affirmations, etc etc.

Essentially, it is capitalism but 10x more savage.

Thanks to the diverse range of markets, Jane was able to profit immensely from selling her bathwater, her used underwear, her poop, her sweat, her private browsing data, how many miles she walked, her emotions, her voice, and even her hair. Likewise, capitalists continue to venture into turning the most ordinary things into profitable commodities, while companies have lowered their standards to cut corners in every way possible to save money. This is late-stage capitalism in a nutshell.

by Mary Mary Quite The Contrarian May 3, 2021

Justification against Victims of Late-Stage Capitalism

The explicit defense of the extreme, often absurd, harms endemic to the decaying phase of capitalism—such as rampant financialization, platform monopolies, climate collapse, and existential precarity—as not only necessary but as signs of a thriving, innovative system. It frames unprecedented levels of inequality, burnout, and societal dysfunction as the exciting, if turbulent, frontier of human progress, where victims are merely those who failed to adapt to a new, faster world they should be grateful for.

Justification against Victims of Late-Stage Capitalism Example: A tech billionaire arguing that the mental health crisis and loneliness epidemic fueled by social media algorithms are "the price of global connection and democratized information," and that those suffering from addiction or misinformation "need to develop better digital literacy." This justification reframes the systemic pathologies of attention economics as a grand, neutral evolution, blaming users for its human costs.

by Abzugal February 8, 2026

Rationalization against Victims of Late-Stage Capitalism

The cognitive process of explaining the system's deepening failures through a lens of hyper-complexity and inevitability, using concepts like "digital disruption," "the Fourth Industrial Revolution," or "market logic 2.0." It rationalizes surreal outcomes—like billionaires funding space tourism while homelessness surges—as natural results of unstoppable technological and economic forces, not political choices. The suffering is framed as an unfortunate byproduct of a transition too complex to steer.

Rationalization against Victims of Late-Stage Capitalism Example: An economist stating, "While wealth concentration appears extreme, it reflects the supernormal returns of intangible assets and network effects in a digital era. Redistributive policies might inadvertently stifle the innovation driving this new paradigm." This rationalization uses jargon ("intangible assets," "network effects") to portray a political choice—tolerating extreme inequality—as a sophisticated understanding of an inevitable new economic law.

by Abzugal February 8, 2026