State capitalism

Owning the means of production by the state, rather than by individuals. This complex of economic measures is often used as a means to accelerate a country's economic development from small-scale and subsistence production to large-scale machine production, while developing the necessary organizational and managerial skills among the workforce.
State capitalism was the form used by the German Democratic Republic, the Korean Democratic People's Republic and the Democratic Republic of Vietnam to transit into their communist regimes. In so-called "developing" economies such as Egypt, India and Burma, state capitalism has been used to accelerate national economic development.
State capitalism and municipal or local government capitalism can be an important transitional strategy in the movement for social change.
Counter Claim:
State capitalism is an inefficient economic system with high levels of corruption possible.
Government Nation state
Type Classification:
D: Detailed strategies
Related UN Sustainable Development Goals:
GOAL 16: Peace and Justice Strong Institutions