State capitalism in the context of "Miracle on the Han River"

Capitalism is an economic system based on the private ownership of the means of production and their use for the purpose of obtaining profit. This socioeconomic system has developed historically through several stages and is defined by a number of basic constituent elements: private property, profit motive, capital accumulation, competitive markets, commodification, wage labor, and an emphasis on innovation and economic growth. Capitalist economies tend to experience business cycles of economic growth followed by recessions.

Economists, historians, political economists, and sociologists have adopted different perspectives in their analyses of capitalism and have recognized various forms of it in practice. These include laissez-faire or free-market capitalism, state capitalism, and welfare capitalism. Different forms of capitalism feature varying degrees of free markets, public ownership, obstacles to free competition, and state-sanctioned social policies. The degree of competition in markets and the role of intervention and regulation, as well as the scope of state ownership, vary across different models of capitalism. The extent to which different markets are free and the rules defining private property are matters of politics and policy. Most of the existing capitalist economies are mixed economies that combine elements of free markets with state intervention and in some cases economic planning.

The socialist market economy (SME) is the economic system and model of economic development employed in the People's Republic of China. The system is a market economy with the predominance of public ownership and state-owned enterprises. The term "socialist market economy" was introduced by Jiang Zemin during the 14th National Congress of the Chinese Communist Party (CCP) in 1992 to describe the goal of China's economic reforms.

Originating in the Chinese economic reforms initiated in 1978 that integrated China into the global market economy, the socialist market economy represents a preliminary or "primary stage" of developing socialism. Some commentators describe the system as a form of "state capitalism", while others describe it as an original evolution of Marxism, in line with Marxism–Leninism similar to the "New Economic Policy" of the Soviet Union, adapted to the cohabitation with a globalized capitalist system.

The National Peasants' Party (also known as the National Peasant Party or National Farmers' Party; Romanian: Partidul Național Țărănesc, or Partidul Național-Țărănist, PNȚ) was an agrarian political party in the Kingdom of Romania. It was formed in 1926 through the fusion of the Romanian National Party (PNR), a conservative-regionalist group centred on Transylvania, and the Peasants' Party (PȚ), which had coalesced the left-leaning agrarian movement in the Old Kingdom and Bessarabia. The definitive PNR–PȚ merger came after a decade-long rapprochement, producing a credible contender to the dominant National Liberal Party (PNL). National Peasantists agreed on the concept of a "peasant state", which defended smallholding against state capitalism or state socialism, proposing voluntary cooperative farming as the basis for economic policy. Peasants were seen as the first defence of Romanian nationalism and of the country's monarchic regime, sometimes within a system of social corporatism. Regionally, the party expressed sympathy for Balkan federalism and rallied with the International Agrarian Bureau; internally, it championed administrative decentralization and respect for minority rights, as well as, briefly, republicanism. It remained factionalized on mainly ideological grounds, leading to a series of defections.

With its attacks on the PNL establishment, the PNȚ came to endorse an authoritarian monarchy, mounting no resistance to a conspiracy which brought Carol II on the Romanian throne in 1930. Over the following five years, Carol manoeuvred against the PNȚ, which opposed his attempts to subvert liberal democracy. PNȚ governments were in power for most of the time between 1928 and 1933, with the leader Iuliu Maniu as its longest-serving Prime Minister. Supported by the Romanian Social Democrats, they expanded Romania's welfare state, but failed to tackle the Great Depression, and organized clampdowns against radicalized workers at Lupeni and Grivița. This issue brought Maniu into conflict with the outlawed Romanian Communist Party, though the PNȚ, and in particular its left, favored a Romanian popular front. From 1935, most of the centrist wing embraced anti-fascism, outvoting the PNȚ's far-right, which split of as a Romanian Front, under Alexandru Vaida-Voevod; in that interval, the PNȚ set up pro-democratic paramilitary units, or Peasant Guards. However, the party signed a temporary cooperation agreement with the fascist Iron Guard ahead of national elections in 1937, sparking much controversy among its own voters.

Capitalism is an economic system based on the private ownership of the means of production and their use for the purpose of obtaining profit. This socioeconomic system has developed historically through several stages and is defined by a number of basic constituent elements: private property, profit motive, capital accumulation, competitive markets, commodification, wage labor, and an emphasis on innovation and economic growth. Capitalist economies may experience business cycles of economic growth followed by recessions.

Economists, historians, political economists, and sociologists have adopted different perspectives in their analyses of capitalism and have recognized various forms of it in practice. These include laissez-faire or free-market capitalism, state capitalism, and welfare capitalism. Different forms of capitalism feature varying degrees of free markets, public ownership, obstacles to free competition, and state-sanctioned social policies. The degree of competition in markets and the role of intervention and regulation, as well as the scope of state ownership, vary across different models of capitalism. The extent to which different markets are free and the rules defining private property are matters of politics and policy. Most of the existing capitalist economies are mixed economies that combine elements of free markets with state intervention and in some cases economic planning.

Conservatism in China (simplified Chinese: 保守主义; traditional Chinese: 保守主義; pinyin: bǎoshǒu zhǔyì) emphasizes authority and meritocracy stemming from Confucian values, and economically, it aims for state capitalism rather than free markets. Many Chinese conservatives reject individualism or classical liberal principles and differ from modern Western conservatism because Chinese conservatism has a strong communitarian element. A major concern of modern Chinese conservatism is the preservation of traditional Chinese culture.

Authoritarian socialism, or socialism from above, is an economic and political system supporting some form of socialist economics while rejecting political pluralism. As a term, it represents a set of economic-political systems describing themselves as "socialist" and rejecting the liberal-democratic concepts of multi-party politics, freedom of assembly, habeas corpus, and freedom of expression, either due to fear of counter-revolution or as a means to socialist ends. Journalists and scholars have characterised several countries, most notably the Soviet Union, China, Cuba, and their allies, as authoritarian socialist states.

Contrasted to democratic socialist, social democratic, anti-statist, and libertarian forms of socialism, authoritarian socialism encompasses some forms of African, Arab and Latin American socialism. Although considered an authoritarian or illiberal form of state socialism, often referred to and conflated as socialism by critics and argued as a form of state capitalism by left-wing critics, those states were ideologically Marxist–Leninist and declared themselves to be workers' and peasants' or people's democracies. Academics, political commentators and other scholars tend to distinguish between authoritarian socialist and democratic socialist states, with the first represented in the Soviet Bloc and the latter represented by Western Bloc countries which have been democratically governed by socialist parties - such as Britain, France, Sweden and Western social-democracies in general, among others. Those who support authoritative socialist regimes are pejoratively known as tankies.

Capitalism is an economic system based on the private ownership of the means of production and their use for the purpose of obtaining profit. This socioeconomic system has developed historically through several stages, and is defined by a number of basic constituent elements: private property, profit motive, capital accumulation, competitive markets, commodification, wage labor, and an emphasis on innovation and economic growth. Capitalist economies may experience business cycles of economic growth followed by recessions.

Economists, historians, political economists, and sociologists have adopted different perspectives in their analyses of capitalism and have recognized various forms of it in practice. These include laissez-faire or free-market capitalism, state capitalism, and welfare capitalism. Different forms of capitalism feature varying degrees of free markets, public ownership, obstacles to free competition, and state-sanctioned social policies. The degree of competition in markets and the role of intervention and regulation, as well as the scope of state ownership, vary across different models of capitalism. The extent to which different markets are free and the rules defining private property are matters of politics and policy. Most of the existing capitalist economies are mixed economies that combine elements of free markets with state intervention and in some cases economic planning.