State capitalism

From Simple English Wikipedia, the free encyclopedia

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.

The English Wikipedia also has a similar article with this name: State capitalism.