The question of whether state capitalism is a viable
alternative to liberal capitalism often relates back to how modern capitalism
developed over about a century. China takes special presence in this debate
because it is the most notable example of modern state capitalism. The
proposing side and the opposing side have different opinions even from the
beginning where they define the key terms of the motion. While pro interprets
state capitalism merely as the control over the capitalistic economy by
political elites for the sake of political gain, the con views the term in a
broader sense where it includes any widespread influence over the economy by
the government. The proposition strongly argues that state capitalism is
different from the past in several ways. The government is way more informed
about the economy than before, and they have experienced and witnessed numerous
trial and errors that help them make wise decisions on the corporations they
procure. Also, there are incentives from the government as well. On the other
hand, the opposition believes this can properly work only when this is a tool
used to mend the holes of liberal capitalism, as seen in the case of India and
Brazil. Even China has a modified version of state capitalism where certain
corporations are functioning as private companies.
21 May 2013
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