There has been a major revival of interest in State Capitalism:
what it is, where it is found, and why it is seemingly becoming
more ubiquitous. As a concept, it has evolved from radical
critiques of the Soviet Union, to being deployed by neo-liberals to
describe market reforms deemed imperfect, to settle into a middle
ground, as a pragmatic way to describe the state assuming a role as
an active economic agent, in addition to its regulatory, social,
and security functions. The latter is the central focus of this
book, although due attention is accorded to the origins of state
capitalism and how it has changed over the years, as well as
contemporary ways in which state capitalism may be theorized. This
economic agency may assume direct forms, for example, via state
owned enterprises. However, it may also be indirect, for example,
actively serving private interests through promoting insider firms,
who may occupy monopolistic market positions and perform outsourced
state functions. In turn, this leads to raising salient governance
questions. The latter may encompass agency tensions between public
ownership, and political or even private interest control; it may
also include issues of transparency and monitoring. Although state
capitalism has often been depicted as the preserve of states in the
global south, be they developmental or predatory, many forms of
state capitalism are visible in mature economies, be they liberal
or coordinated, and this is not always associated with superior
governance arrangements; indeed, this is an area where clear and
easy divisions between the "developing" or "emerging" world and the
"developed" or "mature" world may increasingly be breaking down.
This volume brings together the accounts of leading experts from
around the world; it is explicitly multi-disciplinary, and both
consolidates the existing knowledge base, and provides new, novel,
and counter-intuitive insights.
General
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