State capitalism

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This article is about the common meaning of state capitalism. For Lenin's implementation, see the New Economic Policy. For Mao's implementation, see New Democracy.

State capitalism (also known as planned capitalism) is a variant of the capitalist mode of production in which the majority of the means of production is controlled by the state under a bourgeois dictatorship. State capitalist countries also typically utilise a planned economy; however this planned economy is directed towards the benefit of the bourgeoisie and not suiting the needs of the proletariat. Examples of a state capitalist economy include Nazi Germany, the Republic of Korea before market reforms, and Singapore.