State capitalismState capitalism is an economic system in which the state undertakes business and commercial (i.e. for-profit) economic activity and where the means of production are nationalized as state-owned enterprises (including the processes of capital accumulation, centralized management and wage labor). The definition can also include the state dominance of corporatized government agencies (agencies organized along business-management practices) or of public companies such as publicly listed corporations in which the state has controlling shares.
MarxismMarxism is a method of socioeconomic analysis that uses a materialist interpretation of historical development, better known as historical materialism, to understand class relations and social conflict and a dialectical perspective to view social transformation. It originates from the works of 19th-century German philosophers Karl Marx and Friedrich Engels. As Marxism has developed over time into various branches and schools of thought, no single, definitive Marxist theory exists.
Criticism of communist party ruleThe actions by governments of communist states have been subject to criticism across the political spectrum. Communist party rule has been especially criticized by anti-communists and right-wing critics, but also by other socialists such as anarchists, trotskyists, democratic socialists, libertarian socialists and orthodox marxists. Ruling communist parties have also been challenged by domestic dissent. According to the critics, rule by communist parties has often led to totalitarianism, political repression, restrictions of human rights, poor economic performance, and cultural and artistic censorship.
Friedrich HayekFriedrich August von Hayek (ˈhaɪək , ˈfʁiːdʁɪç ˈʔaʊɡʊst fɔn ˈhaɪɛk; 8 May 1899 – 23 March 1992), often referred to by his initials F. A. Hayek, was an Austrian-British economist and political philosopher who made contributions to economics, political philosophy, psychology, intellectual history, and other fields. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for work on money and economic fluctuations, and the interdependence of economic, social and institutional phenomena.
Karl PopperSir Karl Raimund Popper (28 July 1902 – 17 September 1994) was an Austrian-British philosopher, academic and social commentator. One of the 20th century's most influential philosophers of science, Popper is known for his rejection of the classical inductivist views on the scientific method in favour of empirical falsification. According to Popper, a theory in the empirical sciences can never be proven, but it can be falsified, meaning that it can (and should) be scrutinised with decisive experiments.
