statism

Statism is an economic system characterized by the concentration of economic controls and planning within a highly centralized government. This often involves government ownership of industry and significant state intervention in production and economic decision-making.12

There are two main forms of state capitalism:
* Statism: The state influences private corporations through policies like taxation, regulation, and economic planning, without directly participating in the capitalist process.23
* Direct State Intervention: The state actively intervenes through mechanisms such as sovereign wealth funds, central banks, and state-owned enterprises.23

Historically, state takeovers of private enterprises increased after World War I, with countries like France and Italy nationalizing key industries. While state control was seen as a way to ensure employment and strategic industries, its efficiency has been debated, especially in light of economic challenges faced by communist countries. In modern times, features of state capitalism are evident in countries where governments control major industries, such as oil and gas.2