The Change Dynamic of the Political Economy After the Global Crisis: The New State Capitalism

Abstract

The current discussions on state capitalism are focused on whether post-crisis state capitalism practices can be a solution for the capitalism crisis. However, considering the change the concept of state capitalism has been through in time, it is important to study its relationship with the policies that emerged after the global crisis and led to new phase called “the new state capitalism”. Within this framework, the object of this study is to review post-global crisis state intervention practices by taking into consideration the change state capitalism went through history and to analyse how these practices impact global capitalism. To this end, this study is divided into two sections: The first section will look at state capitalism from a historical perspective and tackle its differences from today’s state capitalism practices. The second section will tackle the new state capitalism practices and their possible outcomes.